INTERVIEW: CareTech Has Pipeline Of 15 Buy Opportunities

17th Jun 2010 11:54

By Rachael Gormley Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. social care provider CareTech Holdings PLC (CTH.LN) has a pipeline of 15 potential acquisition opportunities, Group Finance Director David Pugh said Thursday, as the company looks to add another 1,000 beds to its capacity in the next three to four years. "We've done three acquisitions in two months since we did the refinancing so we've not been hanging about," he said. "We just have to be sure its the right acquisition, that its accretive and has the right specialism and geographies." Speaking to Dow Jones Newswires, Pugh said the company is looking particularly at acquisition opportunities in foster care services and in acquired brain injury services. He added that the company is also looking to get a foothold in cities in northern England such as Newcastle, Manchester and Liverpool, as well as in Scotland. CareTech made GBP85 million of funds available for its consolidation this spring following a GBP15 million share placing during the first half and a GBP165 million bank refinancing in April. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; [email protected] (END) Dow Jones Newswires June 17, 2010 06:54 ET (10:54 GMT)