Member Article

Serco sell occupational health arm for £3.5m

Major outsourcing and services provider Serco has sold its occupational health division to the arm’s management team in a deal that is expected to lose the firm £4m.

The business caters for 450,000 people nationwide in the private and public sectors, yet Serco say there is little growth ambition for the division within their portfolio of services.

In the year to January 2013 the occupational health division generated approximately £15m of revenue and £1m of Adjusted operating profit. The provisional value of net assets being disposed of is approximately £6m.

Christopher Hyman, chief executive of Serco Group plc, said: “I would like to thank our colleagues for their hard work and commitment in developing our occupational health business. However, this has become non-core to the future development of Serco’s Health portfolio and further progress of the occupational health business can be more successfully achieved under alternative ownership.

“We remain 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.”

This was posted in Bdaily's Members' News section by Tom Keighley .