FTSE 100 Company Capita Group Buys CHKS From Inflexions

UK mid market buy out firm Inflexion Private Equity has sold CHKS, the UK division of Healthcare Knowledge International, to FTSE 100 listed Capita Group. HKI, a European benchmarking performance and analysis information provider, was originally acquired by Inflexion in

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UK mid-market buy-out firm Inflexion Private Equity has sold CHKS, the UK division of Healthcare Knowledge International, to FTSE 100-listed Capita Group.

HKI, a European benchmarking performance and analysis information provider, was originally acquired by Inflexion in April 2004 and consisted of CHKS, its UK division, and IASIST in Spain. From the sale of the UK division, Inflexion has received proceeds sufficient to provide its investors with more than a one and a half times return. CHKS was purchased for 11.6 million (€13.2 million), according to Capita.

“We are proud that throughout the period of our ownership CHKS has not only grown, but has almost doubled the number of employees organically. It is now in a position to move forward into its next stage of development and we wish the team every success in the future,” says John Hartz, managing partner at Inflexion.

CHKS, a healthcare intelligence and quality improvement service provider, made an operating profit, on a pro forma basis, for its financial year to 31 December 2008 of 1.6 million on turnover of 8 million.

“This acquisition will add important new expertise to Capita’s range of health services and effectively complements the work we are doing for NHS Choices, in developing the way the NHS connects with the public,” says Paul Pindar, chief executive of Capita. “The deal also further demonstrates Capita’s commitment to, and investment in, the health sector.”

Earlier this month, Inflexion appointed Yagnish Chotai, one of buy-out firm Cinven’s founding partners, as a senior advisor.

D.C.

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