Care UK buys Mercury27th March 2007
British private healthcare provider, Care UK, has bought the Mercury Health branch of Tribal.
Care UK paid £77m for the support services group which includes Mercury’s assumed debts. Care UK hopes the move will further enable the company to expand its work in clinical care. The take-over positions Care UK alongside Bupa and Netcare as one of the leading providers of primary care services and fast-track surgeries in the UK.
Care UK started out as a provider of nursing homes but has since expanded to include day surgeries, eating disorder clinics and children’s homes to its portfolio. The acquisition of Mercury establishes Care UK as a major player within the private healthcare sector and gives the company increasing opportunities to take advantage of escalating subcontracting by the NHS and local authorities.
Care UK is understood to have beaten Cognetas, the private equity group and Inhealth, a privately owned healthcare service group, to the take over. It is believed Care UK funded the take over with a combination of debt and equity and industry insiders expect this new acquisition to see the company enjoying revenues of over £200m within 3 years.
Having sold a major division, Tribal is now understood to be redoubling its efforts within its core support services affairs.
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Title: Care UK buys Mercury
Article Id: 2375
Date Added: 27th Mar 2007