15th Nov 2016 11:27
LONDON (Alliance News) - Totally PLC, which provides out-of-hospital care services in the UK, on Tuesday said it has acquired Optimum Sports Performance Centre Ltd for up to GBP650,000.
Optimum, based in Hertforshire, offers sports therapy and rehabilitation services across the UK and will complement Totally's existing subsidiaries, particularly its Premier Physical Healthcare occupational health and musculoskeletal physiotherapy unit.
Totally will pay GBP400,000 in cash to acquire Optimum upfront, plus deferred consideration of up to GBP250,000 based on Optimum meeting earnings targets out to 2017.
In 2015, Optimum made a GBP52,500 pretax profit on revenue of GBP1.4 million.
"Optimum represents a strong fit with Totally's mission of becoming the leading provider of 'out of hospital' health care in the UK, and brings with it a broad range of value-add services in sports rehabilitation and physiotherapy and additional revenue potential," said Wendy Lawrence, Totally's chief executive.
Totally shares were up 2.9% to 59.15 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Totally