This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

Healthcare business sells for just £2

02 March 2017

Mitie has announced the sale of its Healthcare division to specialist investor Apposite Capital for a nominal fee of £2.

Announced in various national media news items yesterday, it was further stated that there had been a further writedown on the value of the loss-making business.

The company had announced that it would withdraw from the home healthcare services market last November.

Its latest statement said the total writedown on the division and losses would total £36.8m in the current year, according to Reuters.

This sum is further to the £115.3m losses announced in previous statements.

One reason for the reduction has been identified as the spending cuts made by the government on healthcare, which has also seen Mears withdraw from this area of the market.

Following the sale, Mitie has committed to contributing £9.45m to cover the Healthcare division's losses and costs of changing its business model in April and July.

The Reuters report also refers to profit loss warnings issued by Capita, Carillion and Interserve, following a slowdown within their UK businesses.


Print this page | E-mail this page

MOST VIEWED...


Article image Launch of Young Leader Award 2017 announced

This year's Young Leader Award (formerly the Young Manager Award) will take place on 4 May at the ArcelorMittal Orbit in London's Queen Elizabeth Park.Full Story...

Article image PFM Awards 2017 categories announced

Categories for the PFM Awards 2017 have been finalised, with two new awards added this year.Full Story...

FM director disqualified for 6 years after emptying company accounts

EU energy efficiency to be retained post Brexit

A taste of fashion

http://www.fsi.co.ukhttp://airvent.co.ukhttps://www.emergencyuk.com/pfm2