CareTech completed the £372m acquisition of Cambian Group.

CareTech, a national provider of support for people with complex and challenging behaviours associated with Autism, Learning Disabilities, Mental Health illness and neurological conditions, completed the £372m acquisition of Cambian Group, one of the largest providers of specialist behavioural health services for children in the UK. Cambian shareholders now own about 33% of the merged company, with CareTech stockholders owning the remaining 67%. Under the agreement, UK-based CareTech was seeking to acquire all issued and outstanding common shares of Cambian by exchanging 0.267 new CareTech shares and 100 pence, or £1.90, in cash for every share held by Cambian shareholders. “The financial rationale for the Transaction is compelling in its potential to generate value for both CareTech shareholders and Cambian shareholders. At the same time, the larger size of the enlarged group means that more funds will be made available to the CareTech Charitable Foundation to accelerate its important work in giving back to the most disadvantaged communities,” Farouq Sheikh, CareTech chairman.