Cera Care announce deal to acquire home care provider Mears
London-based Cera Care has announced that it has acquired Mears Care, one of the UK’s leading home care providers.
The acquisition involved a cash consideration of £4m payable on completion, alongside a further £1m of deferred consideration receivable over the coming 12 months.
The deal also puts Cera Care in the top 15 league of home care companies nationally, making it one of the largest social care providers only three years since its launch in 2016.
The company, noted for offering cutting-edge home care solutions, and will now command 2,000 employees in 20 offices across the UK.
Commenting on the acquisition, co-founder and CEO, Dr Ben Maruthappu (pictured) said: “Our acquisition of Mears Care gives us the opportunity to transform a traditional care service into an innovative care provider, that operates on the frontier of revolutionising social care.
“This milestone will provide us with much greater national coverage, combined with a strong network and talent-base, that takes our offering to a new level, serving many more users, and empowering many more care workers – making Cera the leader in modern and effective elderly care.”
“Since our launch in 2016, we have demonstrated our commitment to improving the quality of care provided to older people. Through the development and use of pioneering new technologies, we are transforming the lives of users and front-line staff, while working with the NHS to deliver better integrated services across the country.”
The company has pushed boundaries with its Smart Care technology, helping individuals to stay in their home for longer.
Cera are the first company globally to use AI at scale in social care and plan to make further acquisitions and diversify its services to complex care and home diagnostics.
Recent tech roll outs include its machine learning algorithms that predict health deteriorations before they occur with 83% accuracy, and its Dynamic Tasks platform – a so called Google Maps for care which uses AI to recommend actions to carers, with 93% accuracy.
Picture (c) Cera Care.