Care home operator CareTech (CTCH) doesn’t shy away from mergers and acquisitions. It doesn’t need to. With £10m of cash, headroom in the banking facilities and an average cash conversion rate of 91 per cent since 2013, it’s got the financial firepower for takeovers. It has also proved adept at acquisitions and integration. The purchase of new properties (or old ones that need regenerating) has helped spark compound annual revenue growth of 8 per cent in the past five years.
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