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news.DCC, the business support services group, has reported that DCC Healthcare has expanded its presence in Britain through the acquisition of Squadron Medical, a medical equipment company.
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The initial cash consideration payable by DCC is E16 million, including net cash acquired of E3.5 million. Further consideration will be payable up to a maximum of E11.8 million based on profits earned in each of the four financial years to March 31 2012. The value of the net tangible assets acquired at completion (inclusive of net cash) was E7.4 million.
Squadron will continue to be led by Peter Wyslych, its founder and managing director.
Jim Flavin, executive chairman of DCC, said: “Squadron is well positioned for continued strong growth in the British hospital supply sector. Squadron will work closely with DCC’s subsidiary Fannin, hospital supplier in Ireland, to accelerate the development of DCC Healthcare’s business in the hospital supply sector in Britain.”