Constellation Healthcare to go private after £250m takeover

Shares in AIM-listed Constellation Healthcare Technologies (CHT) soared on Friday after it agreed to be taken over by its founder Paul Parmar in partnership with US firm CC Capital.

Shareholders are being offered 270p a share, a hefty 45% premium on Thursday's closing price, and a 5% promissory note worth $0.43, valuing CHT at around £250m.

CHT provides billing support services to hospitals and medical practices across the US. The company will now go private

CHT chairman John said: "This deal will provide the capital that Constellation Healthcare Technologies needs to grow its business at the rate that changes in its market demands while at the same time giving an excellent return to shareholders since IPO."

Shares in CHT were up 25% to 232.5p at 0902 GMT.