Sunday 18 March 2018

Sisk Healthcare hunts acquisitions, renegotiates bank facilities

Sisk Healthcare has a €100m a year turnover
Sisk Healthcare has a €100m a year turnover
Gavin McLoughlin

Gavin McLoughlin

The healthcare arm of the Sisk Group is hunting for acquisitions.

A company spokesman said Sisk Healthcare was in the process of re-negotiating its existing banking facilities to avail of the current low interest environment. The company would not provide further details of the sectors it plans to target or what it hopes to increase its financial firepower to.

Sisk diversified from property and construction into the healthcare business in 2006 after acquiring five medical device distribution companies. Later it bought medical equipment manufacturer Eschmann before selling the business in 2014.

The healthcare business has an annual turnover of around €100m, according to Sisk's website.

The company's building business recently reported a 25pc rise in pre-tax profits for 2015, to €13.7m.

Its managing director Stephen Bowcott said: "Momentum has carried through to this current year and we are on track to achieve turnover of circa €650m in 2016. We now have a strong platform for profitable growth."

But the company warned there was "a looming skills shortage" in some areas of construction.

"Many who emigrated following the construction crash have either chosen not to return or have not been able to return," it said.

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