Healthcare Locums Plc (HLO:LSE), the beleaguered specialist health and social care staffing firm, announces that its wholly owned Australian subsidiary, Healthcare Australia Holdings Pty Limited (HCA) has completed the sale of its Homecare Division.

The gross consideration before expenses was 34 million Australian Dollars (A$), which equates approximately to 22.4 million Pounds. The net proceeds of the sale will be used to reduce the company's debt.

In the year ended 31 December 2010, the Homecare Division generated a turnover of A$44.7 million (approximately 28.1 million Pounds), a gross profit of A$12.2 million (approximately 7.6 million Pounds) and an EBITDA before extraordinary items of A$4.0 million (approximately 2.5 million Pounds).

HCL's shares are still suspended following an investigation into accounting irregularities. As of last trade, HCL's traded at 112.50 Pence, +29.31% above the 52 week low of 87.00 Pence set on 17 December 2010.