Capita Acquires Healthcare Recruitment Firm, Team24

Capita Acquires Healthcare Recruitment Firm, Team24

The Capita Group Plc ('Capita') has today acquired specialist healthcare recruitment firm Team24 Limited ('Team24') for a consideration, on a cash free debt free basis, of £24 million, plus up to a further £2 million depending on Team24's profit performance in the year to 31 March 2012. Team24 provides nurses and doctors at short notice for a wide range of temporary placements across the NHS and the private sector.

The acquisition adds depth and breadth of expertise both to Capita's recruitment business and to the range of services it provides to the NHS and wider healthcare market.

Headquartered in Surrey, Team24 employs 80 staff and has around 4,000 doctors and nurses registered for placement. Clients include the NHS, prisons, doctors' surgeries and private practices. It also operates under a number of framework agreements, including the London Regional Nursing Framework (LRANF).

Team24 made a pro forma operating profit for its financial year to 31 March 2011 of £4.2 million on turnover of £32.7 million.

Commenting on the deal, Paul Pindar, Chief Executive of The Capita Group Plc said: "Healthcare resourcing is a growth market with demand for doctors and nurses increasing in-line with the ageing population and Government's focus on primary care, increased opening hours for GP surgeries and new services through NHS Direct. This acquisition will allow Capita to provide services to this growing market and complements a number of other services we offer to the public and private healthcare sectors. "