Share Search
Visit the Share Search
Totally acquires corporate fitness provider Energy Fit-Pro
16th Dec 2021 09:51
(Sharecast News) - Healthcare services provider Totally said on Thursday that it had acquired Energy Fitness Professionals, a British corporate fitness provider.
Totally said the total consideration payable for the acquisition was up to £1.3m in cash, paid on a cash-free and debt-free basis, with £1.0m paid on completion and a further £300,000 on a deferred basis and based on the audited financial performance of the company in the year ending 31 March 2023.
The AIM-listed group added that the acquisition was "one of a number of bolt-on businesses" with which it was in advanced discussions.
Chief executive Wendy Lawrence said: "Energy Fit-Pro is a very well-regarded business and fits well with our commitment to delivering quality services that ensure people within the UK and Ireland have access to the care and support they need. By entering the corporate market through Energy Fit-Pro's strong existing contract base, we can further support our traditional customers, such as the NHS, by providing solutions that keep the population physically and mentally healthy and avoid the need for in-hospital care where possible.
"We continue advanced discussions with a number of other bolt-on businesses to enhance and strengthen our proposition further. I look forward to updating the market in due course as we look to build upon Totally's position as a leading provider of healthcare delivery across the UK and Ireland and expand further by offering workplace wellbeing solutions."
As of 1255 GMT, Totally shares were up 4.18% at 34.90p.
Totally said the total consideration payable for the acquisition was up to £1.3m in cash, paid on a cash-free and debt-free basis, with £1.0m paid on completion and a further £300,000 on a deferred basis and based on the audited financial performance of the company in the year ending 31 March 2023.
The AIM-listed group added that the acquisition was "one of a number of bolt-on businesses" with which it was in advanced discussions.
Chief executive Wendy Lawrence said: "Energy Fit-Pro is a very well-regarded business and fits well with our commitment to delivering quality services that ensure people within the UK and Ireland have access to the care and support they need. By entering the corporate market through Energy Fit-Pro's strong existing contract base, we can further support our traditional customers, such as the NHS, by providing solutions that keep the population physically and mentally healthy and avoid the need for in-hospital care where possible.
"We continue advanced discussions with a number of other bolt-on businesses to enhance and strengthen our proposition further. I look forward to updating the market in due course as we look to build upon Totally's position as a leading provider of healthcare delivery across the UK and Ireland and expand further by offering workplace wellbeing solutions."
As of 1255 GMT, Totally shares were up 4.18% at 34.90p.