Member Article

Healthcare enterprise secures Lloyds Bank financing for acquisition

Community healthcare services provider City Health Care Partnership CIC has secured a finance package from the South Yorkshire and Humberside team of Lloyds Bank Commercial Banking to fund its acquisition of Brocklehurst Chemists Limited for an undisclosed sum.

The acquisition adds a further three pharmacies to City Healthcare Partnership’s current portfolio of two. The outlets will play a central role in service delivery and increase the organisation’s geographical coverage and shop facing services.

Services delivered by City Health Care Partnership CIC include, among others, district nursing, community paediatric nursing, health visitors, school nurses, sexual health, dentistry, prison health, GP practices, minor injury units, eating disorders and psychological wellbeing.

The independent, social business employs over 1,400 staff and delivers a diverse range of primary community health services to people across Hull and the East Riding of Yorkshire.

Paul Hillary, Company Resources Director at City Health Care Partnership CIC said: “This acquisition is a key stage in our continuing growth, as pharmacies are important to our service provision model and more than doubling the number we operate significantly strengthens our geographic reach.

“Securing the finance package was important in allowing us to take this step and we are thankful to the support given to our business by the Lloyds Bank team.”

Adam Barraclough, Relationship Director at Lloyds Bank Commercial Banking, said: “City Health Care Partnership CIC plays a vital role in the community of Hull and the East Riding of Yorkshire, delivering a broad spectrum of essential health care services and relieving pressure on local hospitals.

“It’s essential that key healthcare providers have the facilities they need to deliver the best possible quality of care, and I am pleased that we have been able to support the team’s development strategy.

“Lloyds Bank is committed to supporting enterprises that make a positive difference in communities and we believe the financial facilities we have made available to City Health Care Partnership CIC will have a lasting beneficial effect on healthcare services in the area.

“This agreement consolidates our solid history of delivering funding to the not-for-profit sector, from smaller local community groups to much larger organisations which bank significant funds and need specialist deposit, lending and payment services.”

This was posted in Bdaily's Members' News section by Lloyds Bank Commercial Banking, North East and Yorkshire .