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Clarion sells subsidiary to Swedish telecom specialist
The country’s largest housing association has sold off one of its subsidiaries that provides telecare and support services for vulnerable and older people.
In a message to the stock exchange this morning, Clarion confirmed it had sold Invicta Telecare, known as Centra Pulse and Connect, to Swedish-based technology specialist Doro Group. The deal is expected to be worth just over £5m, according to Doro.
Invicta provides telecare monitoring, call handling and face-to-face support for 200,000 customers across the UK.
It is one of the biggest telecare monitoring services in the UK for housing associations, local authorities, private businesses and charities.
Revenue for the business in 2017/18 was £6.3m, representing less than 1% of Clarion’s turnover.
Michelle Reynolds, chief operating officer at Clarion, said: “Clarion made the decision to sell Invicta Telecare Ltd because we believe that Doro Group is better placed to meet the long-term needs of these customers.
“As a specialist technology company, Doro Group has capacity to invest and innovate in the telecare market, providing a first-class product to support independent living in older age.
“As the largest social landlord in the country, our focus at Clarion will continue to be on building homes, creating communities and providing for people who are failed by the housing market.”
According to its accounts, Clarion spent £541m on building new homes in 2018/19, investing £124m in refurbishing its existing properties.
The 125,000-home association also reported a drop in its surplus for the third year in a row, with its surplus hitting £154m in 2018/19, down slightly from £158m in 2017/18.
