16th Jun 2016 07:03
LONDON (Alliance News) - Healthcare services provider Totally PLC on Thursday said it has struck a GBP7.7 million deal to acquire About Health Ltd as it reported a slightly narrowed loss for 2015.
Totally will pay GBP1.8 million upfront to acquire About Health, with the balance to be deferred and paid based on About Health meeting performance targets through to March 2019.
About Health is a community-based health services provider in the UK and has been under contract to the National Health Service since 2009. It provides community dermatology services to 18 clinics in Lancashire, Dorset and Hampshire.
For the year to March 2016, it made a pretax profit of GBP260,000 on revenue of GBP2.3 million.
Totally said the deal is in line with its strategy to broaden its portfolio of healthcare services and said it believes About Health will enhance earnings and deliver revenue and profit growth.
The acquisition came as Totally said its pretax loss for 2015 narrowed to GBP410,000 from GBP440,000 a year earlier, as revenue dipped to GBP577,000 from GBP609,000.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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