London-listed healthcare firm Care UK acquires Whitwood Care

British health and social care services provider Care UK plc (LON:CUK) has taken over specialist adult residential care operator Whitwood Care, Care UK said without providing financial details.

The buyer said that the deal complements its existing services for individuals with learning disabilities across the range of outreach, care at home, supported living, residential homes and respite live in care. The company will also add a staff of 140 with expertise in personalised support.

Whitwood Care operates three West Yorkshire-based care homes, namely Whitwood House, Whitwood Hall and Whitwood Grange. The homes provide purpose built residential facilities offering specialist care and support for 48 people with learning disabilities, including those on the autistic spectrum.

Libby Eastley, Business Development director for Community Services, Care UK, commented that Whitwood Care’s facilities will complement the company’s services focused on individuals with learning disabilities. Eastley said further that Whitwood Care’s staff will join Care UK’s community services division.

Care UK, established in 1982, operates GP centres, hospitals, care homes and provides support for people within the community. The company’s services for older people care focus on support at home, supported living services, day clubs and residential or nursing homes. Its healthcare services include treatment centres, GP practices, NHS walk-in centres, out of hours GP support and clinical assessment and diagnostics facilities.

German Fresenius to raise €1bn via share issue to fund Rhoen-Klinikum buy

German healthcare group Fresenius SE & Co KGaA (ETR:FRE) said its management and supervisory boards had decided to raise about EUR1bn (USD1.3bn) via the placement of 13.8m new shares with institutional investors to help finance its planned EUR3.1bn buy of domestic hospital operator Rhoen-Klinikum AG (ETR:RHK).

The Else Kroner-Fresenius-Foundation will participate in the capital hike with at least EUR90m, Fresenius said.

The accelerated bookbuilt is being run by Deutsche Bank AG (ETR:DBK), JPMorgan Chase & Co (NYSE:JPM) and Societe Generale SA (EPA:GLE).
Fresenius announced on 26 April plans to launch a EUR22.50 a share voluntary public takeover offer in cash for Rhoen-Klinikum in a move to boost its hospital business.

It said then it would finance the deal with a syndicated loan, a bond issue and equity instruments.

The deal will combine Fresenius’ Helios with Rhoen-Klinikum to create the largest private hospital operator in Germany with around EUR6bn in annual revenues and significant cost and growth synergies, the buyer said.

The offer is subject to an acceptance level of 90% and regulatory clearance.

The buyer said it would publish the detailed offer documents in the second half of May, with the hope of closing the transaction in the third quarter of 2012.

Rhoen-Klinikum, running 53 hospitals and 39 healthcare centres, reported EUR2.6bn in sales and a net income of EUR161m last year.

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