Business Loans Case Study
Skipton-based Healthcare House provides information and advice on a wide range of healthcare issues as well as supplying medical consumables and equipment across the UK.
It is the parent company to three other businesses – Deliver Net, which delivers supplies to hospitals, care homes and businesses, Click Healthcare an online advice portal and Clickcare Solutions which is aimed at charities and online shops with a requirement for healthcare products and services.
Managing Director Tim Lockett wanted to adapt to a growing healthcare market by developing the Healthcare House brand further and build brand equality across the businesses.
A £100,000 Business Loan from Finance Yorkshire is being invested in content, design and software programmes to maximise the experience for users.
Tim said: “The money will also help us to put in place the infrastructure and brand we need to deliver an interface that can also be used by professionals as we are looking to develop a diagnostic tool for them, as well. We now have the team in place, and the funding, to take the business where we want to be.”
The Investment Rationale
Finance Yorkshire was introduced to Healthcare House by Tom Evans of Barclays Corporate Banking in Bradford and has gone on to invest £100,000 of the company’s £300,000 requirement to build its expanding offering.
Finance Yorkshire Investment Manager Jonathan Craig said: “Barclays had provided additional support to the business and felt Finance Yorkshire was a good fit to help Healthcare House with its growth plans.
“We’re very pleased we were able to help out with the gap funding as Healthcare House are a great example of a forward-thinking and growing Yorkshire business
Added Tim: “I see a big change in the provision of healthcare, both in the UK and globally, in the next ten to 15 years and I want us to be a prominent supplier in the delivery of healthcare products, services and advice to the most vulnerable in society.
“Excluding the Government and the NHS, the market for healthcare equipment in the UK is half a billion pounds but I can see that doubling in the next decade.
“That forecast, combined with the Government’s desire to see procurement decisions taken out of hands of a public body and increasingly given over to the consumer, suggest a growing market which we hope to gain a considerable share of.”
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire