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Takeover and staff shortages loom large at CareTech

The social care firm’s co-founders are hoping to take the company private in a period of sector-wide uncertainty
Takeover and staff shortages loom large at CareTech
  • No half-year dividend with company in offer period
  • Children’s services remains largest contributor to revenue

When the Omicron variant emerged late last year, specialist social care provider CareTech (CTH) noted a problematic uptick in employee absences. To fill the gap, it hired agency staff – which naturally increased its staffing costs and hit its bottom line. By now, this is a familiar story across the wider health and social care sector. The question is whether CareTech has the financial resources and the necessary vision to fully recover from the impact of the pandemic.

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