Allied Healthcare agrees CVA with creditors

Allied Healthcare has agreed company voluntary arrangement (CVA) with creditors, which means it can now implement a business plan to keep running its health and social care operations.

The homecare provider, which has 83 branches in the country and is owned by the German private equity vehicle Aurelius, announced it was seeking a voluntary arrangement in April.

It said it would continue to invest in its staff and technology now it has revised its schedule of repayments to creditors, which include suppliers, landlords and pension trustees.

A company statement said: ‘Allied Healthcare has worked closely with a number of organisations to achieve a successful restructuring. We pass our thanks to all stakeholders, customers and staff that have provided support to Allied Healthcare throughout the CVA process.

‘During this time, continuity of quality, safe care has been ensured. In line with the CVA proposal, there are no planned redundancies or branch closures throughout Allied Healthcare’s operations.’

Allied provides care for 13,500 people and administers services to 150 local authorities and 90 NHS Clinical Commissioning Groups across the UK. Headquartered in Stafford it employs 8,700 people.

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Deven Pamben has more than 15 years’ experience as a journalist, working on newspapers, trade magazines and online publications. A Criminology graduate, Deven worked for Hertfordshire Constabulary before becoming a journalist. He began his journalism career at a local newspaper in Hertfordshire before moving into trade magazines in permanent roles or as a freelancer. Titles he has reported and edited on include Law Society Gazette, Harpers Wine and Spirit, and Health Club Management. Deven has also written travel features for the Sunday People, and spent two years working in Beijing for the official press agency of the People’s Republic of China.