Business
Disposal
Disposal.
About this update from Dcc Plc
[{"type":"text","content":"\n RNS Number : 8086N DCC PLC 17 June 2010 \n \n\n \n \n17 June 2010\n \n \nDCC disposes of its Mobility & Rehabilitation business\n \n \nDCC plc, the business support services group, announces that it has agreed to dispose of its Mobility & Rehabilitation business (\"DCC M&R\") to Patterson Medical, the world's leading distributor of rehabilitation and sports medicine products which is a division of the US listed group, Patterson Companies, Inc. (Nasdaq NM: PDCO).\n \nThe assets being disposed of by DCC comprise DCC's 94% shareholding in Physio Med Services Limited, DCC's 60% shareholdings in Ausmedic Australia Pty Limited and Metron Holdings Pty Limited and the business, net tangible assets and goodwill of DCC's wholly owned subsidiary, Days Healthcare UK Limited*. The total consideration, payable in cash, for DCC M&R, including amounts payable to the minority shareholders, is €37 million (Stg£31 million) on a cash free / debt free basis, subject to an adjustment to reflect normalised net working capital.\n \nThe pre tax cash impact on DCC, net of minorities, costs and anticipated adjustments for normalised net working capital, is expected to be approximately €30 million (Stg£25 million) which is in line with the DCC balance sheet carrying value of the net tangible assets and goodwill that are being disposed of. DCC M&R accounted for less than 1% of the DCC Group's operating profit in the financial year ended 31 March 2010. \n \n \nTommy Breen, Chief Executive of DCC, said today:\n \n\"The disposal of DCC Mobility & Rehab is consistent with our strategy to concentrate the focus of DCC Healthcare on our larger healthcare businesses, DCC Hospital Supplies & Services and DCC Health & Beauty Solutions, which have strong leadership positions and significant opportunities for organic and acquisition growth.\"\n \n \nFor reference, please contact\nTommy Breen, Chief Executive\nConor Costigan, Managing Director, DCC Healthcare\nConor Murphy, Investor Relations Manager\n \nTel: +353 1 2799400\nEmail: [email protected]\nWeb: www.dcc.ie\n \n*DCC will continue to own the corporate entity, Days Healthcare UK Limited, which is vigorously pursuing enforcement proceedings before the Courts in Taiwan against Pihsiang Mac...