Contracts/Deals: Capita acquires Medicals Direct
Tue, 22 May 2012
Outsourcing firm Capita has acquired medical screening service provider Medicals Direct Holdings for £13.2m.
The deal also includes a deferred consideration linked to profit performance of up to £2m, and comes a couple of weeks after the firm placed an extra 40m new ordinary shares, raising around £274m to fund further acquisitions
, as reported by recruiter.co.uk
on 25 April.
Capita has now spent over £100m on acquisition so far in the current year.
In the year to 2011, Medicals Direct made a pro forma operating profit of £2.25m on a turnover of £18.6m, and provides around 150,000 screenings every year, primarily to the life and pensions sector. It has around 180 employees in six offices.