Acquisition
March 19 2003 - 2:00AM
UK Regulatory
RNS Number:8942I
Oasis Healthcare PLC
19 March 2003
For Immediate Release 19 March 2003
OASIS HEALTHCARE PLC
4 LATEST ACQUISITIONS INCREASE ESTATE OF DENTAL PRACTICES TO 128 SITES WITH
COMPANY ANNUALISED TURNOVER INCREASING TO APPROX #73 MILLION
Oasis Healthcare Plc ("Oasis" or the "Company"), the AIM-listed UK dental care
operator, announces the acquisition of dental practices in Andover, Longfield
(Kent), St Albans and Wrexham for a total consideration of #1,920,000 including
expenses. Of this amount, #1,733,000 is payable immediately, with the balance
payable over two years subject to performance.
The four practices have a combined annualised turnover of #2,766,400 and operate
with 17 surgeries which increases the Company's clinical capacity to 537
surgeries. These latest practice additions increase the Oasis estate of dental
practices to 128 sites and increase the Company's annualised turnover to
approximately #73 million.
Ron Trenter, Chairman, commented :
"As previously announced, the focus for the Company following the acquisitions
of Dencare and Ora will now mainly be on implementing practice development
initiatives to grow turnover and profitability across our national practice
estate. Consequently, we anticipate that only a small number of further practice
acquisitions will be undertaken which - as exemplified by today's announcement -
will typically be large practices situated in locations where Oasis is not
currently represented."
For further information, please contact :
Malcolm Hughes (Chief Executive, Oasis Healthcare Plc) 01603 625335
Oliver Scott (KBC Peel Hunt Ltd) 020 7418 8900
Tim Anderson/Lisa Baderoon (Buchanan Communications) 020 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
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