Updates

Synergy Healthcare - Buys Hays Clinical Support for Â£11.2m

April 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Having received clearance from the regulatory authorities, Synergy has acquired Hays Clinical Support Services for Â£11.2m cash which represents a very big strategic step forward for it. The dealis being funded by a placing of 5.71m new shares at 210p to raiseÂ£11.2m after expenses. Two directors are also selling a total of 1.35mshares as part of the placing. Established in 1996, HaysClinical specialises in instrument decontamination and sterilisationservices to the NHS and to private hospitals. It is the market leaderwith eight clean room facilities located across England, establishedat a cost of Â£9m over the past six years. Primarily, HaysClinical generates income from its Foundation Contracts for ins ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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