US acquisition makes Compass the healthcare market leader
15 February 2001
Compass is to buy Morrison Management Specialists, the second-largest hospital and nursing homes caterer in the USA, for $563m (£382m) in cash.
Compass Group chief executive Mike Bailey said: "Morrison is a perfect fit for the group, as it gives us a market-leading position in the US healthcare sector, complementing our existing healthcare business worldwide."
Morrison has more experience in the hospital market, while Compass's healthcare business in North America is concentrated on nursing homes.
Morrison serves more than 475 clients and turned over $778.6m (£534m) in the year to 31 May 2000. Profits were $441.1m (£302m).
