Hastings-based telemedicine provider Medica Group has become the latest UK-listed firm to be snapped up by private equity investors after agreeing to be acquired by IK Partners (IK) in a deal that values the business at £269 million, according to a report by Bloomberg.
Hastings-based telemedicine provider Medica Group has become the latest UK-listed firm to be snapped up by private equity investors after agreeing to be acquired by IK Partners (IK) in a deal that values the business at £269 million, according to a report by Bloomberg.
Under the terms of the offer, IK will pay 212 pence per share in cash, which represents a premium of 32.5% to Friday’s close.
According to Medica chairman Roy Davis, IK Partners’ plans to “continue to invest in the training, development, and expansion of Medica’s global employee base will support management’s growth plans and the continued provision of essential fast and reliable reporting to support our customers”.
