Cambian Group PLC Cambian Group Acquires Woodleigh Community Care (9177Y)
05 Dicembre 2014 - 8:00AM
UK Regulatory
TIDMCMBN
RNS Number : 9177Y
Cambian Group PLC
05 December 2014
CAMBIAN GROUP ACQUIRES WOODLEIGH COMMUNITY CARE
Cambian Group plc ("Cambian"), one of the UK's largest
specialist behavioural health service providers, announces today
the acquisition of Woodleigh Community Care ("Woodleigh") for an
enterprise value of GBP63m, funded from the Group's bank
facilities. The acquisition of Woodleigh is a significant
opportunity for Cambian and is aligned to our strategy of both
increasing specialist capability and capacity, and expanding into
geographies where we are under-represented.
Woodleigh operates 152 beds, across 13 residential homes and
supported living units and one hospital in the Yorkshire and Humber
region. The business provides a full pathway for specialist,
community-based, high severity care for adults with complex needs,
challenging behaviours and learning disabilities. The care and
approach of Woodleigh is well aligned to the government's
Transforming Care agenda and provides Cambian with a platform to
replicate these services and approach in additional sites in
neighbouring regions.
In the 12 months to September 2014, Woodleigh recorded revenue
of GBP18.2m, EBITDA of GBP6.8m and operating profit of GBP5.4m. At
30 September 2014, the gross assets employed in Woodleigh were
GBP13.5m. The properties in the Woodleigh portfolio are freehold,
with three further freehold sites owned for development.
Business Update
As previously reported, Cambian has grown strongly in 2014.
Given a number of high quality acquisition opportunities coming to
the market in the year, such as Woodleigh, we have allocated a
higher proportion of our capital to acquisitions versus organic
growth. Our expectations for 2015 remain unchanged; albeit with a
different revenue profile between Adult and Children's services
reflecting the acquisition of Woodleigh.
The Board regularly evaluates acquisition opportunities, and
believes that such transactions, as well as organic investment,
will create significant value for shareholders in the future.
Saleem Asaria, Chief Executive Officer of Cambian,
commented:
"We are delighted to have acquired Woodleigh and believe that
the acquisition will bring great value to Cambian. It enables us to
enter the Yorkshire and Humber region, and importantly brings
increased specialist capability to the Group which will enable us
to extend the services we offer across the business. We are
committed to being the highest quality provider of specialist
behavioural and health services for children and adults and today's
transaction complements this vision".
Enquiries:
Cambian Group plc +44 (0) 20 8735 6150
Saleem Asaria, Chief Executive
Andrew Griffith, Chief Financial Officer
Tulchan Communications +44 (0) 20 7353 4200
Tom Buchanan
Lucy Legh
Notes to Editors
About Cambian Group plc
Cambian Group is one of the UK's largest specialist behavioural
health service providers. Founded in 2004, it has grown to become a
significant partner to the UK Government. The Group's services have
a specific focus on children and adults who present high severity
needs with challenging behaviours and complex care requirements.
Cambian employs over 6,000 people across a UK-wide portfolio of 253
purpose-designed facilities, comprising 26 schools, 35 hospitals,
189 specialist homes and 3 fostering offices.
About Woodleigh Community Care
Woodleigh was established in 2004 and provides high quality
services for people with learning disabilities and complex needs
and behaviours, offering a range of services, including an
independent hospital, residential care homes and supported living
services.
The hospital: Woodside is Woodleigh's independent hospital for
up to nine adults with learning disabilities and challenging
behaviours, accommodating both informal patients and those detained
under the Mental Health Act 1983. It provides people with a bespoke
rehabilitation service within a community setting.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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