Mon 21 Oct 2019.
Capita is a multinational outsourcing and business services company, based in London. It is one of the largest outsourcing companies in the UK, and is contracted to provide public services in a huge variety of areas, including local government, the NHS, central government, defence, justice services, some emergency services and others.
Capita's share price fell over 40% in 2 days in January 2018 after it was revealed that the company was in debt and managing too many complex contracts. Shareholders sold their shares in a rush, worrying about the effect of the collapse of Carillion just a couple of weeks earlier on the UK outsourcing market.
Capita's entanglement with private companies and local and central government is extensive; their latest annual report boasts that the company is 'systemically important to the UK economy'. They have an estimated 41% of the £4bn-a-year public sector outsourcing market. They are currently entirely responsible for the NHS's Primary Care Support service, (PCSE), which has been heavily criticised by GPs for being chaotic and dangerous for patients.
Capita is a plc listed on the London Stock Exchange. Its major shareholders are mostly investment and asset management funds.