London-based NHS dialysis provider Renal Services (UK) Ltd plans to double in size over the next 12 months after securing new debt facilities.
The refinancing follows a competitive process managed by the debt advisory team at specialist advisory firm FRP. Renal Services has recently been awarded a number of NHS contracts and the new financing structure will support the construction and fit-out of new dialysis clinics over the next year. In addition, it supports the company’s future growth plan by enabling potential access to additional funding without the need for complex renegotiation.
Renal Services currently operates 20 dialysis units across the UK and provides care and support to more than 1,000 NHS patients.
CEO Stefano Ciampolini said: ‘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.’
Tom Cox, partner in the debt advisory team at FRP in London, added: ‘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.’