Acquisition of SDC by Serco Group plc
Serco Group plc announces the acquisition of SDC
Serco Group plc ('Serco'), the international management services company, is
pleased to announce that it has acquired SDC for a consideration of £2 million.
SDC is a leading healthcare management consultancy, project management and
solutions business. SDC specialises in services to health organisations
providing strategy development, health planning, capital project advisory
services, performance improvement and implementation services. SDC reported a
turnover of £1.4 million for its year ended March 2002 and its contribution
post acquisition is expected to be earnings enhancing.
The acquisition will create a strong platform for Serco to grow further
business in health, building on our existing track record in providing support
services to Norfolk and Norwich, Wishaw General and Leicester Royal Infirmary
hospitals, and waiting list brokerage through Serco Euromedic. The new business
will be known as Serco SDC.
Serco SDC will develop new business opportunities in providing additional
service capacity to the NHS and in developing NHS LIFT schemes, whilst
maintaining SDC's tradition of high quality strategic consultancy advice.
Chris Hyman, Chief Executive, Serco Group plc stated: -
'We see considerable growth opportunities in the healthcare sector and are
delighted to welcome the staff of SDC into Serco. This acquisition gives Serco
strength and depth in a vital public service sector, adding to the capabilities
that the company already has in this market, and the role that it plays.
SDC provides us with an immediate capability in providing strategic advice and
consultancy to all layers of the NHS and capability to enter the markets in
services that we believe will be provided to the NHS by the independent sector
on a sustainable basis, including direct clinical services, performance
improvement through the Trust Franchising scheme and future PFI/PPP projects in
hospital and primary care assets.'
Ian Savage, Chief Executive, SDC said:
'SDC has been looking for a partner to support achievement of its vision and
strategy. In Serco we have found the ideal partner; an organisation that has
similar ambitions in healthcare and that can supplement the SDC skill base. The
combined resources and capabilities of the two firms will create a major new
business for the healthcare market.'
- Ends -
For Further Information Contact:
Kevin Johnson, Media & Public Relations Manager Tel: +44 (0) 1932 755900
Notes for Editors
Serco is an international provider of management services to government and
industry. The company covers a wide range of activities, from controlling
satellites and operating computer networks for the European space agency, to
managing and operating the Docklands Light railway where Serco was recently
voted national rail Operator of the year. The company employs over 34,000 staff
in 36 countries.
Serco provides non-clinical support services to three major hospital sites in
the UK and to customers in Hong Kong and New Zealand. Two of those sites -
Norfolk and Norwich University Hospital and Wishaw General Hospital were built
through the Private Finance Initiative.
Serco Euromedic is a specialist brokerage company, established to facilitate
the treatment of NHS waiting list patients in the private sector in the UK and
in Europe.
The Managing Director of Serco SDC will be Ian Savage. Richard Darch will be
Director of Business Development and Tim Flanagan will be Director of
Consulting Services.
SDC was founded in the early 1990's by three senior consultants from
PriceWaterhouse. The practice currently employs 14 members of staff.
NHS LIFT (NHS Local Improvement Finance Trust) is the joint venture company set
up by the Department of Health and Partnerships UK plc (PUK) for the
redevelopment and management of the primary care estate, e.g. doctor's
surgeries. NHS LIFT will own and lease premises to GP's (as well as dentists,
chemists, etc) and will empower and assist the regeneration of local
communities by providing better healthcare facilities.
More information on:
SDC can be found at www.sdcgroup.co.uk
Serco can be found at www.serco.com
Latest directors dealings
- 13 hours ago Savannah Energy
- 14 hours ago Buccaneer Energy PLC
- 14 hours ago Savannah Energy
- 14 hours ago Carclo
- 15 hours ago Schroder Japan Growth Fund