Healthcare provider Allied Healthcare Group has acquired a slight majority shareholding in Homecare Independent Living Group for £3.9 million.

Healthcare provider Allied Healthcare Group has acquired a slight majority shareholding in Homecare Independent Living Group for £3.9 million.

The acquisition of 50.1 per cent of Homecare is followed by an agreement for Allied to buy the remaining shares in Homecare by 2020, for an agreed maximum figure of £11.2 million.

Northern Ireland-based Homecare has over 620 staff, and provides social care to elderly and disabled clients. The acquisition gives Allied Healthcare a presence in Northern Ireland and the Republic of Ireland.

Allied Healthcare provides private nursing care in hospitals, private homes and care-homes and has over 110 branches across the UK.

Under the agreement, the two vendors of Homecare will stay on as directors of the Homecare business.

Homecare reported revenue of £9.4 million for the year ended March 2009, and pre-tax profit of £300,000. Its net assets were approximately £200,000 for the same period.

Allied Healthcare is the UK subsidiary of Allied Healthcare International.