Major expansion for NHS dialysis provider
Business advisory firm, FRP has advised Renal Services (UK) Ltd on a refinancing that will see the dialysis provider double in size over the next 12 months.
Renal Services operates 20 state-of-the-art dialysis units across the UK and provides care and support to more than 1,000 NHS patients. The new finance facility comes after the business secured a series of additional NHS contracts that will see it grow its revenues by more than 100 per cent.
Following a competitive process, which was managed by the debt advisory team at FRP, the new financing structure will support the construction and fit-out of new dialysis clinics over the next 12 months. The refinancing also allows for potential future access to additional funding without the need for complex renegotiation of the facility, supporting the healthcare provider’s future growth plans and enabling it to concentrate resource on securing further tender wins.
Tom Cox, partner in the debt advisory team at FRP in London, said: “Quality of service and, crucially, flexibility are at the forefront of NHS tender award decisions and have been key factors in driving the business’ success to date. This new funding provides Renal Services with the headroom to deliver the highest quality of care to an increasing patient population while recognising that it has even greater growth ambitions in the long-term. Given the scale and speed of the new clinic openings, we’re proud to be able to support Renal Services at a significant moment in its growth strategy.”
Stefano Ciampolini, chief executive officer at Renal Services, added: “Away-from-hospital treatment plays a vital role in ensuring dialysis patients in communities across the UK have access to the highest quality of care. Our national network of satellite units offers complete flexibility for patients and creates a model with exceptional growth potential. Having the capital available to fund new units is a major boost for us and gives us every confidence of building on our growing status as a partner of choice for the NHS.”