Homecare player acquires an Ace in latest deal

Posted on September 1st, by editor in Caring Times. No Comments

Major homecare provider, the Careforce Group plc, has acquired Hertfordshire based Ace Homecare Services Ltd for £1.5 million. Ace operates from offices in Stevenage with a training centre in Hitchin, servicing four block and two rapid response contracts for Hertfordshire Social Services. The accounts for Ace, for the year ended 31 March 2005 show an operating profit of £309,000 on turnover of £2.25 million and net assets of £226,000. Careforce has also announced that its Hertfordshire block contract has been extended to March 2008. This two-year extension also applies to the four block contracts currently operated by Ace. Careforce chief executive Mike Rogers said that when his company had listed on AIM in November, Careforce had declared its intention to continue to play a part in the consolidation of the domiciliary healthcare market. “This is our fifth acquisition since then, and those five acquisitions have brought us seven new branch locations,” said Mr Rogers. “Careforce continues to seek quality d

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