Tue, 27 Jun 2017 | DIVISION SALE
A medical firm based in County Durham is hoping that a division sale will lead to "a higher quality of earnings".
Quantum Pharma sold its Biodose Services division to HealthNet Homecare in a restructuring move that will eliminate a £1.75m debt.
Biodose was once considered a service that could save the NHS millions of pounds by reducing prescription waste, but bosses admitted that the company would require significant investment to reach the homecare sector and with some saying it was no longer a fundamental area.
By offloading their medical adherence division, Quantum will be able to put a greater focus on their core niche and special operations.
Chris Rigg, chief executive, who said Biodose Services was expected to make only a “modest” profit this year, said: “The sale positions Quantum as a simplified and focussed pharma business with a higher quality of earnings. “It is particularly pleasing that we have been able to demonstrate a quick path to profitability for Biodose Services and exit it to a buyer who can bring greater emphasis to that business.
“The effect (of the sale) on the group’s balance sheet is positive through a reduction in net debt and it also improves gross and adjusted margin by eliminating low margin turnover.”
Buy a business for sale here
Subscribe to the Business Sale Report here
This established business specialises in the maintenance of heating, cooling, ventilation and refrigeration in industrial, commercial and domestic markets providing a high volume of repeat business from regular call cycles.
LEASEHOLD
The Business sells a variety of accessories for the fitness market through Amazon, ebay and its own website. In the financial year 2019-2020 the Business achieved a turnover of £6 million and is currently on track to do sales of £10 million in the cu...
WEB-BASED
Service offering includes, planning and design, installation and project management, service and maintenance and consultant design. The business also offers retail refrigeration units, air conditioning and licensed trade catering equipment. Benefits...
LEASEHOLD
|
04
|
|
Dec
|
BiFab falls into administration after Scottish government withdraws support | ADMINISTRATION
Fife-based renewables engineering firm Burntisland Fabricati...
|
03
|
|
Dec
|
SDI Group acquires lab equipment firm in £5.8 million deal | BUSINESS SALE
Acquisitive science and technology firm SDI Group has bought...
|
02
|
|
Dec
|
Bonmarché falls into administration | ADMINISTRATION
Fashion retailer Bonmarché has fallen into administra...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources