CareTech Holdings PLC (AIM: CTH), a pioneering provider of specialist social care services in the UK, notes the announcement released today by Cambian Group PLC (‘Cambian’) in response to media speculation regarding a possible offer for Cambian by CareTech.
CareTech confirms that it is in discussions with the board of directors of Cambian regarding a possible offer for Cambian to be satisfied by a combination of CareTech shares and a cash consideration funded through new debt facilities.
This announcement does not constitute a firm intention to make an offer under Rule 2.7 of the Code and there can be no certainty that any firm offer will be made or on what terms it would occur.
A further announcement will be made as and when appropriate.
Committed to the highest standards of care and care governance, CareTech provides its innovative care pathways through five divisions covering adult learning disabilities, specialist services, young people residential services, foster care and learning services which come under the two outcome-based sectors of Adult Services and Young People Services.
CareTech, which was founded in 1993, began trading on the AIM market of the London Stock Exchange in October 2005 under the ticker symbol AIM: CTH. Its property portfolio comprises more than 200 properties.
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