County firm in £4.5m buyout
A Telford medical recruitment company is celebrating a £4.5 million buyout of one of its rivals. Advantage Healthcare, which provides doctors, nurses and carers to the medical profession, hopes the takeover of Quantica Healthcare will be completed by November.
Bosses at the Central Park-based firm say the £4.5 million purchase will see an expansion of its services to include qualified social workers.
Keith Nurcombe, operations director of Advantage Healthcare, said: "I am delighted to confirm that subject to the formal approval of shareholders at Quantica's EGM, it is expected that we will complete the acquisition of Quantica Healthcare in early November.
"As a company, we have been looking for additional expansion opportunities. The purchase of Quantica Healthcare is a natural fit, as their field of expertise complements our own.
"The addition of specialist experience in the qualified social work sector will allow us to provide both existing and new clients with a more comprehensive service."
The Essex-based Quantica Healthcare business will be brought into the Advantage Healthcare Group as it stands, including all key personnel such as managing director Karen Coghlan, and operations director Robin Sidebottom.
Quantica PLC said it was selling its Quantica Healthcare unit to focus on its professional services division.
The company also said it plans to cancel the listing of its shares on the official list and apply for trading on AIM.
Chairman and chief executive Les Lawson said: "The markets in which the continuing group operates, particularly in the professional sectors, remain relatively robust and the outlook for the continuing group in the current financial year remains positive."
Quantica Healthcare's eleven branches will also remain fully operational, and will complement Advantage Healthcare's 26 branches across the UK.