Allied Healthcare Buys HALO for $4.1Mln; To Be Lead Scottish Homecare Provider

March 7, 2011 - PRLog -- Allied Healthcare International Inc., said Monday that its UK subsidiary, Allied Healthcare Group Limited, had acquired the homecare business of Health and Lifecare Options Limited (HALO) for $4.1 million (£2.5 million).

Nasdaq-quoted Allied Healthcare said the UK-based transaction makes it the largest provider of domiciliary care in Scotland.

ScotHomecare is a domiciliary homecare business with nine branches in Scotland and one branch in Leicester, England. It provides over 10,000 care hours per week for the elderly, and for adults with physical difficulities. The company has revenues of £6 million ($9.8 million) per annum.

ScotHomecare's services include adult health care, child nursing care, palliative care nursing and elderly care services.

Allied Healthcare said it expects the acquisition to be accretive to earnings. In addition to a significant volume increase in hours, the deal will enable Allied Healthcare to introduce new higher margin services, including learning disabilities and continuing care, in the new locations.

"The ScotHomecare acquisition is in line with our strategy of expanding Allied's geographic footprint and enhancing value for our shareholders," Allied Healthcare's chief executive Sandy Young said in a statement.

Allied Healthcare operates a community-based network of 120 branches in the UK through its subsidiary with the ability to provide carers, nurses and specialized personnel to 90 percent of the UK population.

Author: Justin Cole, analyst.

Please click here for additional information: http://www.companiesandmarkets.com/news/allied-healthcare...

# # #

Browse 450,000 market research reports and company profiles covering major markets, companies and countries. www.companiesandmarkets.com is a central source of market research reports from the world’s leading analysts and report publishers.