A home health and care services business has been acquired by construction and support services giant Interserve for £26.5m.
The group said the purchase of Advantage Healthcare widened its focus on the £10bn community healthcare market and enabled it to offer additional services and build upon existing relationships with NHS community trusts.
Advantage Healthcare, formerly owned by Rutland Partners, manages the care of over 500 individuals with a broad range of healthcare needs. Its services are provided by nurses and carers and include live-in care, palliative care and complex care.
Adrian Ringrose, Interserve chief executive, said: “We see the healthcare and care at home sector as key growth markets and this acquisition both expands our capability, while also being a further step towards delivering the group’s medium term strategy of greater front-line service provision.
“As part of Interserve, we believe Advantage’s growth will be accelerated through innovation, enhanced business development across a wider client base and a number of operational efficiencies.”
Advantage Healthcare has gross assets of £5m with expected 2012 revenue of £41m and EBIT of £3m.
This story first appeared on Construction News