Friday, 26 September 2008

Ascribe acquires healthcare division of WCI Consulting Ltd

Ascribe has acquired WCI Consulting's healthcare division which provides consultancy and implementation resource to the NHS. Their c30 staff are currently working with Connecting for Health and BT, as well as having contracts with local NHS Trusts.

Under the terms of the agreement, Ascribe has acquired the trade and assets of WCI Healthcare for a cash consideration of £650k payable on completion with a further £300k deferred consideration paid in twelve months subject to certain performance criteria. For the year ended 31 December 2007, WCI Healthcare delivered a pre-tax profit of approximately £263K, on sales of approximately £3.5m.

Note - I declare an interest in this piece as Regent, where i am a non-executive director, acted for WCI in this transaction.

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