Mitie Group PLC ("Mitie"), the strategic outsourcing company, is pleased to announce that it has acquired Complete Care Holdings Limited (“Complete Care”), one of the UK’s leading complex care companies, from Housing 21, a national leader in providing housing and care services for older people.
Complete Care provides high acuity care at home to around 150 individuals with on-going complex clinical healthcare needs. The business employs around 650 personal care assistants (including registered nurses). This acquisition will complement Mitie’s existing domiciliary care operations in England and Wales, which are primarily operated through MiHomecare.
Complete Care generated revenue and EBITA of £17.9 million and £1.1 million respectively in the year ended 31 March 2013. Consideration of £9 million was paid in cash at completion, subject to any adjustment for final completion accounts. Integration costs are estimated to be in the region of £1.3 million.
Ruby McGregor-Smith CBE, Mitie's Chief Executive, said:
“I am delighted to welcome all the people of Complete Care to Mitie who bring with them the clinical capability to support individuals living at home with long term, complex conditions. The acquisition of Complete Care strengthens Mitie’s offering in the growing healthcare market.”
For more information, please contact:
Mitie
John Telling, Group Corporate Affairs Director
D: +44 20 3123 8673
M: +44 7979 701006
E: john.telling@mitie.com
Erica Lockhart, Head of Corporate Affairs
D: +44 20 3123 8179
M: +44 7979 784488
E: erica.lockhart@mitie.com
