CareTech Holdings plc
CIP Merchant Capital is pleased to announce its investment in CareTech Holdings plc ("CareTech"), a leading provider of specialist social care services supporting adults and children with a wide range of complex needs in more than 250 specialist service centres around the UK. The Company has acquired, in aggregate, 950,000 ordinary shares in CareTech for a total consideration of approximately £3.2 million.
In the year ended 30 September 2018, CareTech had net income attributable to its shareholders of £26.5 million and as at 30 September 2018 had net assets of £208 million.
CareTech now constitutes the Company's fifth portfolio company.
Orthofix Medical Inc.
The Company has also acquired a further 6,000 common stock in Orthofix Medical Inc. ("Orthofix"), the NASDQ listed medical devices company, for a total consideration of approximately US$315,000. These shares were purchased in addition to the 9,000 common stock purchased on 11 and 12 March 2019, as noted in the Company's announcement of 1 April 2019, for a total consideration of US$499,000.
Following these further acquisitions of common stock, CIP Merchant Capital is now interested in 112,000 common stock of Orthofix.
In the year ended 31 December 2018 Orthofix had net income of US$13.8 million and as at 31 December 2018 had net assets of US$335.4 million.