Annual Report 2010 - Falck

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Notes to the Group financial statements Note DKK million Group | Falck Annual Report 2010 87 31 Investments in subsidiaries, non-controlling interests and operations (continued) Percentage of voting main month of Purchase Consideration rights Acquisitions 2009 activity Country acquisition price paid in acquired Falck TravelCare AB Assistance Sweden Feb. 5 Cash 100% Falck OY Assistance Finland Jun. 12 Cash 30% Falck AVD Holding B.V. Emergency The Netherlands Jun. 53 Cash 49% Falck Prime Atlantic Limited Training Nigeria Oct. 25 Cash 51% Pleje & Omsorg Healthcare Denmark Oct. 32 Cash 100% Dansk HjemmePlejeService Healthcare Denmark Dec. 30 Cash 100% Other acquisitions 4 Total acquisitions 2009 161 Profit of acquired companies after date of acquisition 0 Full-year revenue including acquisitions 7,765 Full-year profit including acquisitions 431 Percentage of voting main month of Purchase Consideration rights Acquisitions 2011 activity Country acquisition price paid in acquired LifeStar Response Emergency USA Jan. 186 Cash 100% Starowka Healtcare Poland Mar. 27 Cash 75% Total acquisitions 2011 213 Full-year revenue in acquired companies 590 Full-year profit in acquired companies 17 Falck signed an agreement to acquire 100% of LifeStar Response at 1 January 2011. LifeStar Response is a US-based provider of ambulance services, mainly covering non-emergency transports in areas in several states on the east-coast of the United States. The acquisition of LifeStar Response adds further presence of Falck in the United States, where LifeStar Response is one of the largest providers in the region. The US market is expected to provide a strong potential for growth based on the changes in demographics. It is expected that a part of the purchase price will be allocated to customer contracts while the remaining portion will be allocated to goodwill, representing the expected value of future growth opportunities and synergies to be achieved. According to the preliminary opening balance sheet, net assets acquired total DKK 92 million and goodwill including intangible assets total DKK 94 million. Falck signed an agreement to acquire 75% of Starowka at 1 march 2011. Starowka operates four healthcare clinics in the Warsaw area in Poland. The clinics provide both public and private healthcare services. The acquisition of Starowka is a geographical expansion of the business area in Poland. It is expected that a part of the purchase price will be allocated to customer contracts while the remaining portion will be allocated to goodwill, representing the expected value of future growth opportunities and synergies to be achieved. According to the preliminary opening balance sheet, net assets acquired total DKK 0 million and goodwill including intangible assets total DKK 27 million.
88 Falck Annual Report 2010 | Group Notes to the Group financial statements Note DKK million 2010 2009 32 Divestments of subsidiaries, non-controlling interests and operations Assets Cash and cash equivalents - 2 Other current assets - 2 Equity and liabilities Current debt, provisions, etc. - (1) Net assets divested - 3 Disposals of goodwill - 1 Provisions for acquisitions of non-controlling interests, additions during the year 41 75 Value in excess of/below fair value relating to divestment of non-controlling interests (37) (75) Consideration received 4 4 Adjustment for cash and cash equivalents divested - (2) Consideration receivable (3) (12) Consideration received relating to prior-year divestments 9 - Divestment of investments in Group enterprises - 23 Divestment of Group enterprises 10 13 Divestments in 2010 comprised non-controlling interests in Falck Hjemmepleje A/S in Denmark, Falck Investments N.V. in Belgium, Falck Jobservice A/S in Denmark, Falck Eurasia B.V. in the Netherlands, Falck Nutec (Thailand) Ltd., Care Ambulance Service Inc. in the United States and Falck Yardim Hizmetleri Limited S¸irketi in Turkey. Divestments in 2009 comprised the subsidiaries Tesia AB in Sweden, RISC Fire & Safety Services B.V. in the Netherlands, and non-controlling interests in Falck Emergency AS in Slovakia, MSTS Asia Sdn. Bhd. in Malaysia, Falck Aktiv Arbetsmedicin AB in Sweden and Falck Hjemmepleje A/S in Denmark. 33 Dividends paid to non-controlling interests Dividend to non-controlling interests recognised in equity (13) (1) Dividend to non-controlling interests recognised in provisions for acquisitions of non-controlling interests (16) (9) Total dividends paid to non-controlling interests (29) (10) 34 Other movements relating to shareholders Capital increase - 39 Acquisition of treasury shares (6) (5) Disposal of treasury shares 30 - Payment received for change of warrant terms - 1 Buy back of warrants (307) - Total other movements relating to shareholders (283) 35
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USA Emergency Training 1,050 employ
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Annual Report 2010 - Falck

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