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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Healthcare Ent. | LSE:HCEG | London | Ordinary Share | GB00B6030H73 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 20.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6397N Healthcare Enterprise Group PLC 16 June 2005 16 June 2005 Healthcare Enterprise Group PLC acquires CICS (Holdings) Limited for up to #3 million Healthcare Enterprise Group PLC ("HCEG" or the "Group"), is pleased to announce the acquisition of CICS (Holdings) Limited and its wholly owned subsidiary Cross Infection Control Systems (CICS) Limited (together "CICS") for up to #3 million. CICS, which has been in operation for over 10 years, sells sterile kits and other disposable products to approximately 1,300 dental practice customers, which will serve as an excellent starting point for distribution of the Group's products to the dental market. CICS reported pre tax profit for the year ended 31 October 2004 of #224,000 on turnover of #642,000. As at 31 October 2004 CICS had net assets of approximately #560,000. The purchase price to be paid by Healthcare Enterprise Group PLC is up to #3 million, with a payment of #661,250 being satisfied by the issue of 723,513 ordinary shares of HCEG on completion. The balance of up to #2,338,750 will be paid in shares linked to performance targets over the next two years. The acquisition will be earnings enhancing immediately. Application will be made for the 723,513 ordinary shares to be admitted to AIM, with trading expected to commence at 8:00 am on 21 June 2005. Bruce Steer, Managing Director of CICS will join Healthcare Sales & Service Limited, a wholly owned subsidiary of HCEG, as Managing Director of its Dental business. Stuart Bruck, Executive Chairman, Healthcare Enterprise Group PLC, commented: "The acquisition of CICS gives the Group immediate access to the dental market into which a range of existing HCEG products, including Ebiox, will be sold alongside CICS products. We will commence integration of CICS into the existing business immediately and are actively exploring ways of cross distribution." Enquiries: Healthcare Enterprise Group PLC 020 7351 7500 Stuart Bruck, Executive Chairman John Bradshaw, Group Finance Director College Hill 020 7457 2020 Corinna Dorward /Adrian Duffield Notes to editors Healthcare Enterprise Group PLC HCEG is quoted on the UK AIM stock market with its head office in London. HCEG is a business engaged in medical product distribution, occupational health, first aid and medical consultancy markets. These businesses underpin a range of innovative medical devices, which will be introduced to the market via HCEG's own distribution network on an international basis. This information is provided by RNS The company news service from the London Stock Exchange END ACQUNVNRVKRNARR
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