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Saga Sells Allied Healthcare Staffing Business to Aurelius Group.

MANews-(C)2009-2015

2 December 2015 - UK-based Saga plc, provider of products and services primarily tailored for the over 50s, has sold its Allied Healthcare specialty staffing business to mid-market, pan-European investor Aurelius Group, the company said.

Saga said it will receive total consideration of up to circa GBP 19m (USD 28.64m).

Allied Healthcare International Inc., together with its subsidiaries, provides healthcare staffing services to the healthcare and social care industry in the United Kingdom.

A one-off contribution of circa GBP 10m will be made by Saga to the Allied pension fund, which will transfer as part of the transaction.

Saga said it fully wrote down the value of its Allied business to zero as at 31 January 2015. Saga now expects to recognise a small net profit on the sale in the current year's accounts.

The Saga brand has been developed over the past 60 years, and offers products and services including cruises and holidays, insurance, personal finance, healthcare and the Saga Magazine.

Country: UK

Sector: Healthcare

Target: Allied Healthcare

Buyer: Aurelius Group

Vendor: Saga plc

Deal size in USD: 28.64m

Type: Divestment

Financing: Cash

Status: Closed

Buyer advisor: , ,

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Publication:M & A Navigator
Geographic Code:4EUUK
Date:Dec 2, 2015
Words:193
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