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Reed Health Group - Buys Locum Group for £33.7m

May 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.

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Reed Health has announced the acquisition of The Locum Group, a specialist  healthcare agency business, for a total £33.7m cash.  To finance the deal, it is raising £20.9m net through a placing and a 1-for-3 open offer of 14.9m new shares at 150p.   Locum  is involved in the placement of temporary and permanent, spot placement and contract staff in the UK healthcare sector. It has notable similarities with Reed's existing business in health professionals and social care staffing and also provides an entry to supply doctors to NHS Trusts and hospitals Locum targets three health and social care staffing markets: Health Professionals (49% of sales) which supplies audiologists, pharmacists, ...

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Reed Health (March 2002)

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