Schroder British Opportunities (SBO) has announced an investment into Cera Care Limited, as part of a new funding round to support the company’s growth plans, in a transaction led by Evolve HealthCare Partners, a pan-European healthcare focused private equity firm. Cera is a technology-enabled home care provider founded and based in the UK. The new financing will be used to advance Cera’s technology platform, as well as further scale its service platform through the acquisition of small- and mid-sized home care service providers in the UK.
About Cera Care
Launched in November 2016, Cera Care is a technology-enabled healthcare company that has grown rapidly to become one of the largest home care providers in the United Kingdom. According to SBO, it is also one of fastest-growing HealthTech businesses in Europe. Cera has close to 6,000 staff across more than 70 offices in England, Scotland and Wales, and delivers 30,000+ care visits every day.
SBO’s announcement says that Cera has pioneered digital services, data analytics technologies and artificial intelligence to improve elderly care, empowering users to live longer, healthier and better lives at home. More than 85% of carers using Cera’s technology believe it enables them to deliver a safer and more effective service, whilst over 90% of Cera’s users rate their care as ‘Outstanding’ or ‘Good’. Cera’s proprietary recruitment platform ‘Join Social Care’ aims to recruit 100,000 new carers across the UK. According to SBO, the platform has already recruited tens of thousands of new candidates on behalf of more than 2,500 care providers.
SBO’s ESG focus
SBO has a focus on backing high-quality, high growth UK businesses, with multiple opportunities for business transformation and a strong alignment between shareholder value and fundamental positive purpose in society. SBO Company intends that the activities of each of the investee companies in its portfolio will be consistent with the achievement of at least one of the United Nations’ Sustainable Development Goals (SDGs) or Sub-Goals. The investment in Cera is in line with SDG 3 “Good health and well-being” and SDG 8 “Decent Work and Economic Growth”.
Comments from Tim Creed, Head of UK and European Private Equity at Schroders
“We’re at the watershed of a major shift in healthcare, as innovation and technology change the way in which traditional services are delivered – with Cera very much at the forefront of this change. We’re hugely excited to be investing in a business with such immense growth potential, and at the same time, an incredibly important social mission.”
What is the discounted cash flow valuation and assumptions of cash flow for the next 5 years? When do you expect to start and what is the exit strategy for an investor?! Are you going to be listed in an exchange and if so which one?!
no financial details disclosed unfortunately