May 21st 2012
Capita has acquired Medicals Direct Holdings Limited (`MDG'), a provider of medical screening services, for £13.2m, on a cash free-debt free basis, and a deferred consideration, linked to profit performance, of up to £2m.
MDG made a pro forma operating profit of £2.25m on turnover of £18.6m for the year to 31 December 2011.
Commenting on the deal, Capita plc Chief Executive, Paul Pindar, said: 'MDG provides more than 150,000 medical screenings every year, primarily to the life and pensions sector. The acquisition adds new capabilities to Capita by, for example, allowing Capita to enter the home-based screening market. This investment works well with our existing portfolio of clinic and mobile unit screening services, aligns our health proposition with Capita's existing life and pensions business and adds important new capability to large scale contracts we may be targeting in the wider private and public sectors.'
MDG has around 180 employees across 6 offices.