CareTech’s purchase of Cambian cleared by CMA

CareTech’s purchase of Cambian cleared by CMA
Farouq Sheikh, CareTech’s executive chairman

The Competition and Markets Authority (CMA) has cleared CareTech Holdings’ acquisition of the Cambian Group.

CareTech completed the purchase of Cambian on 19 October, however, three days prior the CMA served an initial enforcement order on the two providers in relation to the £372m acquisition to investigate the effect of the deal on the children’s care sector.

Phase one began on 13 December, with the deadline for the authority to announce its decision whether to refer the merger for a phase two investigation on Monday (11 February).

It has decided against that and cleared the deal.

Farouq Sheikh, CareTech executive chairman, said: ‘We are delighted by the CMA’s decision and would like to place on record our appreciation to all involved during the CMA process particularly the executive teams at CareTech and Cambian. We will now move forward with the integration, creating value for all our stakeholders through the highest quality service offerings and significant synergies’

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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.