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
Buchanan (PR Adviser) 020 7466 5000
Panmure Gordon (Nomad and Joint Broker)020 7886 2500
WH Ireland (Joint Broker)020 7220 1666
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