Contracts/Deals: Capita acquires Medicals Direct
22 May 2012
Outsourcing firm Capita has acquired medical screening service provider Medicals Direct Holdings for £13.2m.
The deal also includes a deferred consideration linked to profit performance of up to £2m, and comes a couple of weeks after the firm placed an extra 40m new ordinary shares, raising around £274m to fund further acquisitions, as reported by recruiter.co.uk on 25 April.
Tue, 22 May 2012
Outsourcing firm Capita has acquired medical screening service provider Medicals Direct Holdings for £13.2m.
The deal also includes a deferred consideration linked to profit performance of up to £2m, and comes a couple of weeks after the firm placed an extra 40m new ordinary shares, raising around £274m to fund further acquisitions, as reported by recruiter.co.uk on 25 April.Capita has now spent over £100m on acquisition so far in the current year.
In the year to 2011, Medicals Direct made a pro forma operating profit of £2.25m on a turnover of £18.6m, and provides around 150,000 screenings every year, primarily to the life and pensions sector. It has around 180 employees in six offices.
Outsourcing firm Capita has acquired medical screening service provider Medicals Direct Holdings for £13.2m.
The deal also includes a deferred consideration linked to profit performance of up to £2m, and comes a couple of weeks after the firm placed an extra 40m new ordinary shares, raising around £274m to fund further acquisitions, as reported by recruiter.co.uk on 25 April.Capita has now spent over £100m on acquisition so far in the current year.
In the year to 2011, Medicals Direct made a pro forma operating profit of £2.25m on a turnover of £18.6m, and provides around 150,000 screenings every year, primarily to the life and pensions sector. It has around 180 employees in six offices.
