Serco sells UK occupational health business

4th Oct 2013 07:06

Serco, the FTSE 250 international service company, has completed the sale of its UK occupational health business, a move which forms part of the group's strategy to take a more proactive management of its portfolio. The sale was made for a consideration of £3.5m. For 2012, the financial result of the business was approximately £15m of revenue and £1m of adjusted operating profit. The provisional value of net assets being disposed of is approximately £6m, while the exceptional accounting loss on disposal is expected to be approximately £4m. The group said it remains "committed to serving and developing our core health operations such as community healthcare, non-clinical support services and BPO services", whilst also transferring capabilities to new regions "where we see the greatest opportunities as part of our strategy to build a balanced portfolio in markets and geographies around the world".