15th Jan 2014 09:22
LONDON (Alliance News) - Outsourcing company Mitie Group PLC Wednesday said it has acquired Complete Care Holdings Ltd, a provider of housing and healthcare services for the elderly, for GBP9 million in cash, an acquisition that will boost its own healthcare business MiHomecare.
In a statement, Mitie said it expects costs of about GBP1.3 million for the integration of Complete Care, which reported revenues of GBP17.9 million and earnings before interest, tax, and amortisation of GBP1.1 million in the fiscal year to end-March 2013.
Complete Care employs about 650 personal care assistants, including registered nurses, who address the complex clinical healthcare needs of about 150 individuals.
"The acquisition of Complete Care strengthens MITIE's offering in the growing healthcare market," Chief Executive Ruby McGregor-Smith said in a statement.
Mitie shares were up 0.9% at 324.8 pence Wednesday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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