23rd Dec 2016 07:43
LONDON (Alliance News) - Healthcare company Circle Holdings PLC on Friday said it has entered a joint venture deal with Austria's VAMED Management und Service GmbH for in-patient and out-patient rehabilitation services in the UK.
VAMED has broad experience in providing rehabilitation services, with around 17,200 employees working in 78 countries, Circle said.
The initial project for the joint venture will be in Berkshire and co-located at Circle's CircleReading hospital, with plans to start offering services in the first quarter of 2017.
The joint venture between the two will be 80% owned by Circle and 20% owned by VAMED, with an option to VAMED to increase its holding to 49.9% in the near-term and to acquire a controlling stake after five years.
By Sam Unsted; [email protected]; @SamUAtAlliance
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