Carillion healthcare contracts sold to Serco at hefty discount

“Outsourcing giant Serco has secured a hefty discount on its deal to buy a raft of healthcare contracts from failed rival Carillion.

Serco said it would now pay £29.7m – down from the £47.7m price first agreed in December, before Carillion’s dramatic collapse into liquidation.

The move reflects the fact the contracts will have no working capital and will come with none of the usual warranties in place as a result of Carillion’s failure, according to Serco. …

… Serco’s deal will bolster its healthcare business, seeing it add a string of healthcare contracts spanning five acute hospital trusts and another 20 public sector organisations.

Just under 1,500 employees work on the contracts being acquired under the deal.

Serco’s existing health operations already generate revenue of over £350m, employ over 8,000 people, and provide services to institutions such as St Barts in the UK.

Serco employs more than 50,000 people across five sectors, including defence, justice and immigration, transport, health and citizen services.”

http://www.independent.co.uk/news/business/news/carillion-serco-healthcare-contracts-large-discount-collapse-latest-news-a8210136.html