Saga completes Nestor takeover
Tuesday 07 December 2010
Saga, the insurance, travel and publishing group specialising in the over 50s, yesterday bought Nestor Healthcare for £124m.
The potential deal first emerged in August at a price of 90p a share, but yesterday went through at 110p. The move will allow Saga to enhance its presence in the healthcare market, where it is currently only a small player. Nestor's management are likely to stay on to lead the integration.
Their business operates a range of social and primary care services across the UK including providing carers to visit elderly and ill people at home and advice call centres .
Privately held Saga was bought by private equity firm Charterhouse in 2004. It then merged with the AA.
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