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
2 x Lucrative Cafes & Food Kiosk Recently Departed from a Franchise in Cornwall. Well-Established and Longstanding. Ideal Coastal Location. Recently Renovated. Fantastic Reputation. Excellent Trade Throughout the Year. Offers invited.
LEASEHOLD
Flooring Specialists: Domestic, Contract, Rentals, HMO, Housing Associations, Ecclesiastic, Schools and New Build. Well-Established. Highly reputable with multiple years of repeat business. Over 25 years of experience in the field. Domestic and Comme...
LEASEHOLD
Blue Chip Client Base. Full Range of Display Systems. Limited Industry Competitors. Solid Platform for Growth. Offers invited.
LEASEHOLD
|
13
|
|
Sep
|
AFH Financial Group acquires two firms for £7.2 million | BUSINESS SALE
AFH Financial Group, a listed wealth management firm headqua...
|
12
|
|
Sep
|
Lucid Group completes acquisition of North West-based healthcare consultancy | BUSINESS SALE
Healthcare communication specialists, Lucid Group, has succe...
|
11
|
|
Sep
|
Controversial green energy firm goes bust and forced to appoint administrators | ADMINISTRATION
A small energy supplier providing green energy to 29,000 hou...
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