11 August 2017
MISSION PROVIDENCE TO JOIN MARKET LEADING RETURN TO WORK SOLUTIONS PROVIDER KONEKT LIMITED
Mission Providence Pty Ltd (“Mission Providence”), a leading provider of services under the Australian Government Department of Employment’s jobactive program, is delighted to announce that it will become a stand-alone division within Konekt Limited (“Konekt”), a market leading provider of return to work solutions throughout Australia.
Konekt has entered into a binding agreement to acquire 100% of Mission Providence, subject only to obtaining formal Government Department of Employment approval.
Konekt is listed on the Australian Securities Exchange and has been providing organisational health and risk management solutions throughout Australia for over 25 years. Konekt’s largest business line is return to work services for compensable and non-compensable workplace injury cases and has set its business ethos to provide return to work services for employers, Governments and insurers to maximise workforce participation.
Mission Providence provides Konekt with an opportunity to diversify its business and expand its service offering through a complementary offering, combining Konekt’s experience in workplace rehabilitation and related placement of employees with Mission Providence’s employee and business placement skills across jobactive. Mission Providence will operate as a stand-alone division within the Konekt business and Konekt intends to retain locations and staff to facilitate a smooth transition for employees and jobseekers.
Anthony Steel, Chief Executive Officer of Mission Providence said: “In a short period of time, I am very proud that we have been able to establish Mission Providence as one of the leading providers of services under the jobactive and New Enterprise Incentive Scheme programs. We are very excited to be joining with Konekt, with our purpose, values and missions well aligned to maximising workforce participation.”
Damian Banks, Chief Executive Officer of Konekt said: “We are delighted to welcome the Mission Providence team to the Konekt group of companies. The market leading employment services provided by Mission Providence will significantly broaden our service offering and we are looking forward to working with the team to continue the development and growth of the business going forward.”
Miles Advisory Partners acted as financial advisers and Minter Ellison acted as legal adviser to Mission Providence.