Positive Healthcare Plc
ISDX : DOC

July 04, 2016 05:01 ET

Acquisition of Capital Care Services (UK) Limited and Fine Locums Limited

                                      


                                          Positive Healthcare plc
                                 ("Positive Healthcare" or the "Company")
                                                     
                 Acquisition of Capital Care Services (UK) Limited and Fine Locums Limited

The  Directors  of  Positive  Healthcare  are pleased to announce the  Company's  first  acquisitions  (the
"Acquisitions") since admission of its 7% secured bonds due 2021 to trading on the ISDX Growth Market.

Positive  Healthcare has acquired 75 per cent of the share capital of each of Capital  Care  Services  (UK)
Limited  ("Capital  Care") and Fine Locums Limited ("Fine Locums"), which are both  engaged  in  healthcare
recruitment,  primarily  for the NHS in the UK; the operations of Capital Care  and  Fine  Locums  will  be
integrated  with  the  Company's  existing recruitment activities in due course.  In  their  most  recently
completed  financial  years, Capital Care and Fine Locums made total profits before taxation  of  GBP  0.36
million on revenues totalling GBP 6.19 million. The founders and vendors of Capital Care and Fine Locum are
being retained as advisers to the businesses.

The cash consideration for the Acquisitions, which amounts to GBP 1.57 million in total, has been satisfied
as to GBP 1.0 million from the Company's existing resources and as to GBP 0.57 million from the proceeds of
a loan to the Company made by Gary Ashworth, Chairman of Positive Healthcare.

The Directors of Positive Healthcare accept responsibility for this announcement.

For further information please contact:

Positive Healthcare plc
Chris Ledbury - CEO
www.positiveplc.co.uk.
Tel: +44 (0) 203 587 7566
Email: chris@positivementalhealth.co.uk

Peterhouse Corporate Finance Limited
Mark Anwyl and Fungai Ndoro
Tel: +44 (0) 20 7469 0930

Contact Information

  • Positive Healthcare Plc