Major healthcare provider agrees CVA
Allied Healthcare, which provides care to 13,500 people across the UK, has agreed a company voluntary arrangement (CVA) with creditors.
Last month, the company announced it was putting forward the plans, which it said “will not impact on the safe continuity of care that Allied Healthcare provides across the UK” and would not result in job losses or branch closures.
The business has grown from being a one-branch home nursing service in Staffordshire founded in 1972 to the UK’s largest domiciliary care business employing 8,700 people.
It has 150 contracts with local authorities in the UK, a part of the market which has come under increasing pressure in recent years as margins have been squeezed.
A spokesperson for Allied Healthcare said today: “Allied Healthcare has successfully agreed a Company Voluntary Arrangement (CVA) with its creditors, enabling the implementation of a sustainable business plan that will ensure long-term continuity of care across our health and social care operations.
“Allied Healthcare has worked closely with a number of organisations to achieve a successful restructuring. We pass our thanks to all stakeholders, customers and staff that have provided support to Allied Healthcare throughout the CVA process.
“During this time, continuity of quality, safe care has been ensured. In line with the CVA proposal, there are no planned redundancies or branch closures throughout Allied Healthcare’s operations.”