Swedish staffing firm Dedicare signed an agreement today to acquire UK recruitment and staffing company Templars Medical Agency Ltd.

Templars recruits and provides doctors for customers in the UK and Ireland.

The acquisition will be complete on 1 October 2022.

The initial purchase consideration for the Templars acquisition is £1.8 million, with £1.4 million paid in cash, and £0.4 million in Dedicare shares through a non-cash issue.

A contingent consideration has been agreed, based on Templars Medical Agency's earnings performance in the years 2023-2024. After a period, the Templars Medical Agency brand will change name to Dedicare.

The company was founded in 2015, and its revenue was approximately £3.6 million for the financial year 2021/2022.

Krister Widström, CEO of Dedicare, said, “Acquiring Templars Medical Agency is fully consistent with Dedicare's growth strategy and vision of becoming one of Europe's leading recruitment and staffing companies in healthcare, life sciences and social work. It will further consolidate our positioning in Europe, but first and foremost, bring us a platform in the UK and Ireland.”

Widström added that the acquisition will offer an opportunity for Dedicare’s consultants in the Nordic region to take on assignments in England, Scotland and Ireland, as well as UK territories outside Europe like the Falkland Islands, Gibraltar and St. Helena.

Fiona Thompson, CEO of Templars Medical Agency, “I am delighted that Templars is joining the Dedicare Group. Dedicare will provide the support, resources and skills to enable us to continue the rapid growth we have been enjoying and to further develop the business. It is clear from discussions with Dedicare that we share the same values and ethics of our new owner, we will continue our exciting journey and drive the business forward together.”