Optima Health PLC (AIM:OPT) has agreed to acquire the trade and assets of Care First, a mental health services business, from Priory Group for a net consideration of £15,000.
The acquisition is expected to add approximately £3.7 million in revenue and will enhance Optima’s mental health services.
It will add over 1,000 new customers and around 40 employees to the group.
“The acquisition of Care First demonstrates our ability to continue to execute on our communicated strategy,” said Optima chief executive Jonathan Thomas.
“The business is strategically aligned with ours in a market we understand extremely well, creating opportunities for scale.”
He added: “We look forward to integrating the businesses and benefiting from the significant additional specialist capabilities and revenue growth opportunities, as we continue to evaluate further value-enhancing bolt-on opportunities in the market."