1st Jun 2015 06:53
LONDON (Alliance News) - Social housing and care sector services provider Mears Group PLC on Monday said it has struck a deal to buy the Care UK Homecare Ltd and Care UK Community Care Agency Ltd businesses from Care UK Ltd, the healthcare, social care and care home provider.
Mears will acquire the division for GBP11.3 million in cash. The unit provides community-based care services to more than 10,000 people in England, Wales and Scotland and holds contracts with more than 90 local authorities and Clinical Commissioning Groups, with around 6,000 staff on its books.
Mears said the deal will increase its scale in the domiciliary care market, making it the UK's second-largest provider.
"This deal in many respects mirrors our acquisition of Morrison. I believe we have acquired one of our most significant competitors at an attractive valuation. Our focus will be upon enhancing service delivery thus enabling financial improvements," said Mears Chief Executive David Miles.
By Sam Unsted; [email protected]; @SamUAtAlliance
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