Allied Work Force Group (AWF) said it was expanding into the health sector labour market by buying Panacea Healthcare Ltd for an undisclosed sum.Panacea provides ACC-funded home and community support services and companionship and nursing services in the
Allied Work Force Group (AWF) said it was expanding into the health sector labour market by buying Panacea Healthcare Ltd for an undisclosed sum.
Panacea provides ACC-funded home and community support services and companionship and nursing services in the Auckland and Central North Island.
AWF said that while it was acquiring 100 percent of Panacea, it would operate the business as a partnership with the existing management.
"AWF is an experienced employer and market leader in the supply of people. The group has diversified to meet demand for workers across a growing range of sectors. Healthcare will fit into the group nicely," said managing director Simon Hull.
The purchase will be funded by cash and bank facilities and it will be earnings positive for AWF in the financial year to March 31, 2011.
