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Mon May 20 2024

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Acquisition takes Interserve into home healthcare business

18 Dec 12 Interserve is paying £26.5m to take over a company that provides healthcare service in patient’s own homes.

"Those builders have made me feel much better"
"Those builders have made me feel much better"

The deal marks another significant step in the transformation of what until 2001 was a construction contractor called Tilbury Douglas into a broad-based support services company for whom construction is decreasingly important.

Interserve’s acquisition of Advantage Healthcare, a leading UK provider of healthcare at home services, widens its access to the £10bn community healthcare market.

Interserve said that it intends to grow its health business, which in 2011 provided more than £300m revenue, by broadening the delivery of services across an extended client base.

Advantage Healthcare has annual revenues of £41m and pre-tax profits of approximately £3m, before interest.

Interserve CEO Adrian Ringrose 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."

Interserve acquired Advantage Healthcare from Rutland Partners and management.

Advantage Healthcare manages the care of more than 500 individuals of all ages. Its healthcare services are provided by nurses and carers and include live-in care, palliative care and complex care.

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