Listed homecare provider makes acquisitions

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

Since floating on the AIM-board of the London Stock Exchange in November last year, major homecare provider Careforce has completed two acquisitions. The first is that of Clarina Care Ltd, a live-in care business, for £1.35m. Based in Guildford, Clarina achieved an operating profit of £75,000 on turnover of £2.93 million for the 13 month period ended 30 September 2004, and had net assets of £33,000. Turnover was split approximately 60 per cent from private clients and 40 per cent from social services. The social services work undertaken is for Surrey, Sussex, Essex, Kent and London Borough of Ealing. Careforce has also completed the acquisition of Northamptonshire based Independent Home Care Limited close to £300,000. Independent is based in Litchborough, near Towcester and provides most of its homecare services west of the M1. Independent generates about 85 per cent of its revenues through a mixture of block and spot contracts with Northamptonshire Social Services. The business currently provides around

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