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Share Name Share Symbol Market Type Share ISIN Share Description
Caretech Holdings Plc NEX:CTH.GB NEX Ordinary Share GB00B0KWHQ09
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 365.00p 350.00p 380.00p 373.00p 365.00p 365.00p 1,162 16:30:08
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CareTech Holdings PLC CMA Clears Cambian Acquisition

08/02/2019 7:07am

UK Regulatory (RNS & others)


TIDMCTH

RNS Number : 4759P

CareTech Holdings PLC

08 February 2019

 
 For immediate release   8 February 2019 
 

CareTech Holdings PLC

("CareTech" or "the Company")

CMA Clears Cambian Acquisition

CareTech Holdings PLC (AIM: CTH), a pioneering provider of specialist social care and education services in the UK, welcomes this morning's announcement from the Competition and Markets Authority ("CMA") that it has unconditionally cleared the Company's acquisition of Cambian Group PLC ("Cambian"), a transaction that completed on 19 October 2018.

Farouq Sheikh, Executive Chairman of CareTech, commented:

"We are delighted by the CMA's decision and would like to place on record our appreciation to all involved during the CMA process particularly the executive teams at CareTech and Cambian. We will now move forward with the integration, creating value for all our stakeholders through the highest quality service offerings and significant synergies."

For further information, please contact:

   CareTech Holdings PLC                                               01707 601800 

Farouq Sheikh, Executive Chairman

Gareth Dufton, Interim Group Finance Director

   Ashurst (Legal Adviser)                                                020 7638 1111 

Ross Mackenzie

Karen Davies

   Buchanan (PR Adviser)                                                020 7466 5000 

Mark Court

Sophie Wills

Tilly Abraham

   Panmure Gordon (Nomad and Joint Broker)             020 7886 2500 

Emma Earl

Freddy Crossley

Charles Leigh-Pemberton

   WH Ireland (Joint Broker)                                             020 7220 1666 

Adrian Hadden

Chris Viggor

About CareTech

CareTech Holdings plc is a leading provider of specialist social care services, supporting adults and children with a wide range of complex needs in more than 330 specialist services around the UK.

Committed to the highest standards of care and care governance, CareTech provides its innovative care pathways covering adult learning disabilities, specialist services, young people residential services, foster care and learning services.

On 19 October 2018, CareTech acquired Cambian Group, which has a specific focus on children with high acuity, challenging behaviours and complex care requirements. Cambian looks after 2,000 children across a portfolio of 224 residential facilities, specialist schools and fostering offices located in England and Wales.

CareTech, which was founded in 1993, began trading on the AIM market of the London Stock Exchange in October 2005 under the ticker symbol CTH. Its property portfolio comprises more than 200 properties.

For further information please visit: www.caretech-uk.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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February 08, 2019 02:07 ET (07:07 GMT)

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