Bid for Claimar now unconditional
Not for profit organisation Housing 21’s offer for AIM listed homecare provider Claimar Care has been made unconditional in all respects. Claimar Care has applied for cancellation of its AIM listing, effective from October 27.
The offer by Housing 21 valued the entire existing and to-be-issued ordinary share capital of Claimar Care at about £19.5m. As Housing 21 will be taking on Claimar’s debts, the enterprise value of acquisition has been estimated to be about £40m.
Housing 21 deputy chief executive and commercial director Pushpa Raguvaran said the acquisition of Claimar Care would enable Housing 21 to position itself as a principal provider in the community care sector delivering more than 80,000 hours of homecare and a range of other care services, as well as offering integrated housing, health and social care to more older people.
‘As a not for profit company, our bid for Claimar Care, a quoted care services company, turned more than few heads when we first ann