Serco acquires a number of Carillion healthcare contracts at near half price
Following on from its financial collapse, Carillion has sought to sell a number of its healthcare contracts in order to counteract up to a £900mn debt pile.
Public services giant Serco has now stated it will now acquire a large number of the company’s healthcare contracts for near on half what was previously agreed.
From £47.7mn to £29.7mn, the revised Business Purchase Agreement is a consequence of Carillion’s collapse into liquidation, where its contracts are no longer lucrative. With no working capital, the contracts will undoubtedly come with a number of caveats and put off other prospective buyers.
See also
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Nonetheless, its future potential to further strengthen Serco’s healthcare business capabilities will remain unaffected through the acquisition.
Generating over £300 in revenue per annum, the contracts will enable the company to gain several new contracts covering a number of organisations and services, boosting its overall competitiveness in the market
Since Carillion’s collapse, close to a thousand jobs have been affected, The Independent has reported.
Employing over 50,000 people, Serco continues to operate internationally, where it places a global focus within five key sectors: Defence, Justice & Immigration, Transport, Health and Citizen Services.