Business
DCC Healthcare Acquisition
DCC Healthcare Acquisition.
About this update from Dcc Plc
[{"type":"text","content":"\n DCC PLC\n23 November 2007\n\n\n\n\n DCC Healthcare expands in Britain\n\nDCC plc, the business support services group, announces that DCC Healthcare has\nexpanded its presence in Britain through the acquisition of Squadron Medical\nLimited ('Squadron'). Based in Chesterfield, Squadron procures and supplies\nmedical and surgical products on a just in time basis to point of use within\nhospitals. Squadron will continue to be led by Peter Wyslych, its founder and\nManaging Director.\n\nThe initial cash consideration payable by DCC is €16.0 million (Stg£11.5\nmillion), including net cash acquired of €3.5 million (Stg£2.5 million). Further\nconsideration will be payable up to a maximum of €11.8 million (Stg£8.5 million)\nbased on profits earned in each of the four financial years to 31 March 2012. In\nits latest financial year ended 30 August 2007, Squadron had sales of €36.9\nmillion (Stg£26.5 million) and adjusted operating profits of €2.6 million\n(Stg£1.9 million). The value of the net tangible assets acquired at completion\n(inclusive of net cash) was €7.4 million (Stg£5.3 million).\n\n\nJim Flavin, Executive Chairman of DCC plc, said today:\n\n'Squadron is well positioned for continued strong growth in the British hospital\nsupply sector. Squadron will work closely with DCC's subsidiary Fannin, a leader\nin hospital supplies in Ireland, to accelerate the development of DCC\nHealthcare's business in the hospital supply sector in Britain.'\n\n\n\nFor reference:\n\nJim Flavin, Executive Chairman\nTommy Breen, Group Managing Director\nConor Costigan, Managing Director, DCC Healthcare\nConor Murphy, Investor Relations Manager\n\nTelephone: +353 1 2799400\nEmail: [email protected]\nWeb: www.dcc.ie\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2058,"tagName":"div"}]