CM Company News

Members of Beachcroft LLP and Davies Arnold Cooper LLP - both of which have significant presence in the healthcare sector - have voted in favour of the merger of the two firms. Management teams from both firms are finalising the outstanding details which will lead to the launch of DAC Beachcroft LLP this coming November.

Fostering Solutions, a subsidiary of the growing specialist childcare provider Acorn Care and Education (see this issue, Mental Health &?Specialist Care), has acquired the fourth largest independent fostering agency operating across the UK.

London-headquartered high-end homecare provider Good Care Group has launched a dementia-specific package, pitching its services at a client group traditionally seen as best cared for in residential care settings.

Newly established telehealth provider Appello has partnered with three other companies from the field to launch a new pay-as-you-use’ model of its home-based technology support system.

High-end residential care provider posts healthy leap in profit

Private equity buy-and-build specialist Sovereign Capital has announced two healthcare acquisitions by its subsidiary firms. The first is the bolt-on of Inclusion Care by supported living provider Select Living Options, and the second is the acquisition of Community and Homecare Services (CHS) by Sovereign's domiciliary care investment, City & County Healthcare Group. No financial details were disclosed for either deal.

Specialist care provider Lifeways Community Care Limited last month completed the bolt on acquisition of two businesses: the Independent Living Alliance (ILA) and Natural Networks Limited (NNL) in deals supported by its private investment backer August Equity.

CareTech: Group finance director and company secretary David Pugh has stepped down to pursue other career opportunities. Michael Hill succeeds him, having been at the provider for the past year primarily worked in developing its fostering arm. Meanwhile, there are reports that unnamed private equity groups are looking to approach CareTech in a private takeover.

Acromas builds mega-plateform in UK homecare

Priory Education, Priory Healthcare and Priory Secure Services have each released encouraging results for the year ended 31 December 2010. Priory Education recorded an increase in turnover to £92.4m (2009: £86.3m) and a gross profit of £21.4m (£17.4m). Operating profit was also up from £11.5m to £16.2m and overall profit after tax was £9.1m (2009: £5.6m).