16 July 2012
CARECAPITAL GROUP PLC
("CareCapital", "the Group" or "the Company")
Proposed Demerger of Healthcare Property Development Activities
Shareholders will have learned from the 2011 Annual Report that the Group's activities are now divided into two distinct activities:
● |
Advanced Cancer Services - through the shareholdings in Oncotherapy Resources Limited and Advanced Proton Solutions (Holdings) Limited. |
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Healthcare Property Development - conducted by The Healthcare Property Company Limited |
Discussions with existing and potential investors and with our advisers have led the Board to conclude that it would be of advantage to separate these activities. It is believed that this separation would, in due time, lead to both operational efficiencies and enhanced shareholder value.
When viewed on a standalone basis, the 2011 results for The Healthcare Property Company show revenue of £6.1 million; operating profit of £900,000 and pretax profit of £717,000.
The CareCapital Board has resolved to commence the process of demerging The Healthcare Property Company (currently a wholly owned subsidiary) from The Group and is actively examining options to achieve this objective - these include, but are not confined to, a separate market listing for the company.
For further information, please visit www.carecapital.co.uk or contact:
Michael Sinclair, Chief Executive |
Sandy Jamieson |
Jon Levinson |
Simon Hudson, |
CareCapital Group Plc |
Libertas Capital Corporate Finance Ltd |
Peterhouse Corporate Finance |
Tavistock Communications |
0203 617 8739 |
(NOMAD & Joint Broker) |
(Joint Broker) |
(Financial PR & IR) |
|
020 7569 9650 |
020 74690930 |
020 7920 3150 |
About CareCapital
CareCapital is building a portfolio of innovative cancer services to capture opportunities in the cancer diagnosis and treatment market, building on the Group's 28.75% stake in Advanced Proton Solutions (Holdings) Ltd and its newly launched Oncotherapy Resources business focused on early stage breast cancer treatment. Advanced Proton Solutions is pioneering the use of Proton Beam Therapy in the UK and has secured planning approval for its first London based centre off Moorgate in the City of London, within easy access of a number of London's major hospitals.
CareCapital also specialises as an innovative developer, in primary care real estate, focusing on multi-occupancy premises that accommodate a variety of different, but often synergistic healthcare providers. This is particularly relevant at a time when Government is intent on expanding primary care, bringing more services together under one roof and closer to patients in their own communities. Working in partnership with local authorities, projects can involve significant urban regeneration, with mixed-use and mixed-economy developments incorporating housing, healthcare, childcare, retail and other appropriate facilities for the community.