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UPDATE 1-King's College Hospital joins Serco's pathology JV
September 21, 2010 / 6:52 AM / 7 years ago

UPDATE 1-King's College Hospital joins Serco's pathology JV

* Serco JV wins 300 mln stg 10-year contract

* Deal creates UK’s largest pathology provider

* Agreement worth about 110 mln stg to Serco

(Adds details)

LONDON, Sept 21 (Reuters) - Serco (SRP.L) said on Tuesday it had won a 300 million pounds ($468.5 million) contract to provide pathological services to London’s King’s College Hospital NHS Trust.

Under the agreement, Kings College will join the existing joint venture between Serco and Guy’s and St Thomas’ NHS Trust, creating the UK’s largest provider of pathological services.

The combined service will conduct more than 10 million individual tests a year for customers in the NHS and wider health sector, the support services firm said in a statement.

Serco said the deal would contribute about 110 million pounds to its revenue over the 10 years of the agreement.

Serco Chief Executive Christopher Hyman said the deal positioned the company for further growth in a market worth some 2.5 billion pounds in the UK.

Reporting by Paul Sandle; Editing by Kate Holton

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