Healthcare recruiter Pinnacle Staffing Group has agreed the proposed sales of its agency nursing and medical services business to Ambition subsidiary Arabella Health staffing for £2.75m.

In a statement, Pinnacle saidits directors believed the move was the optimum strategy to maximise and preserve shareholder value, adding that Pinnacle now intends to re-focus on the firm’s doctors recruitment businesses.

Pinnacle is posting a circular to shareholders outlining the reasons for and the principle terms of the sale, details of its proposed investing policy following completion of the sale and including the notice of the general meeting seeking the approval of shareholders to the sale and the adoption of the investing policy. 

The firm’s general meeting will take place at 10am on 6 September 2010 at the offices of Eversheds London offices.

Tom Charlton, executive chairman of Pinnacle, says: “The board believes the disposal [sale] of Pinnacle’s agency nursing and medical services businesses to A24 Group is the best way forward for the company and its shareholders. 

“Following completion of the disposal [sale] we are proposing an investing policy to invest further in our retained doctors business to grow it organically and by making selected bolt-on acquisitions. This is a sector of the medical recruitment industry which is due for consolidation and where we have an experienced management team.”