Care UK acquires Premiere Homecare from Match Group

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

Specialist health and social care service provider Care UK plc has acquired Premiere Homecare from Match Group plc for a total cash consideration of up to £2.0 million. Consideration for the acquisition of the business and goodwill is to be satisfied with an initial payment of £800,000, followed by two separate instalments of £600,000 after 15 and 27 months, subject to gross margin performance. Based in Hammersmith, London, about 75 per cent of Premiere Homecare¹s business is contracted with five London Boroughs. The acquisition will be integrated into Care UK¹s existing homecare business, adding about 10,000 hours per week to the existing base of around 44,000 hours per week. Premiere Homecare’s current annual turnover is £5.2 million. The business is expected to contribute £450,000 profit before tax to Care UK in its first year of operation. Care UK chief executive Mike Parish said the provision of care in the home was an increasing priority for local authorities and Primary Care Trusts (PCTs). “It a

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