CMA clears CareTech/Cambian Group merger
A merger between specialist care services company, CareTech, and specialist education and behavioural health services provider, Cambian Group, has been approved by the CMA.
The decision follows the launch of a merger inquiry by the CMA in December 2018.
CareTech welcomed the CMA’s unconditional clearance of its acquisition of the Cambian Group, which it completed on 19 October 2018.
Farouq Sheikh, Executive Chairman of CareTech, said: “We are delighted by the CMA’s decision and would like to place on record our appreciation to all involved during the CMA process, particularly the executive teams at CareTech and Cambian.
“We will now move forward with the integration, creating value for all our stakeholders through the highest quality service offerings and significant synergies.”
CareTech previously completed the £16.9m acquisition of specialist residential care provider, Selborne Care Limited, in June 2017 (see CareTech buys care home business for £16.9m).