Australia’s Ramsay Health Care Ltd said on Monday it would buy UK-based mental health care provider Elysium Healthcare Ltd for 775 million pounds ($1.03 billion), as it aims to tap into Britain’s mental heath market.
Elysium operates 72 sites in the UK under a partnership with Britain’s state-backed NHS healthcare network.
“(The deal) will expand Ramsay’s patient pathways into the £15 billion UK mental health market at a time when more and more people are seeking support for mental health, learning difficulties and neurological issues,” Chief Executive Craig McNally said.
The deal is expected to deliver mid-single-digit earnings-per-share accretion in FY23, and synergies of at least 5 million pounds a year, Ramsay said.
Earlier this year, Ramsay failed to buy UK-based hospital operator Spire Healthcare Group after investors blocked the 1 billion pound takeover.
Source: Reuters.com