Partner Article

New Bolton clinic for physiotherapy group thanks to five figure loan

A Lancashire physiotherapy group has expanded with the purchase of an established practice in Bolton, supported by Lloyds Bank Commercial Banking.

In order to purchase the Bolton practice, the business partners approached Lloyds Bank Commercial Banking for the five figure loan, which was provided under the Government-backed Funding for Lending Scheme (FLS), having received similar support to acquire their first clinic.

Burnley-based Physiofusion was started in 2007 by good friends Sorrel Holland and Samantha House who spotted a gap in the market to provide a new option for physiotherapy in the area.

The business has since grown to seven sites in Burnley, Padiham, Lancaster, Ramsbottom, Barnoldswick, Skipton and now in Bolton, and currently has 14 full-time members of staff and 20 self-employed physiotherapists who use its clinics.

Director and joint owner of Physiofusion, Sorrel Holland said: “We have a perfect working balance between us, with Chartered Physiotherapist Samantha leading the treatment side of the business, while I use my management background to manage the financial aspects of the company.

“The new site will be a great addition to our business that will bring us closer to customers in and around Bolton and Manchester, and brings us closer to our target of operating 30 clinics.

“It has been a really good year for us as we’d already increased our turnover by 25 per cent before taking over the Bolton practice, and the support from Lloyds Bank has been crucial in helping us to expand the business and take on new staff, which we plan to continue into next year.”

Chris McNicholas, relationship manager for Lloyds Bank Commercial Banking, said: “Sorrel and Samantha have done an excellent job of growing Physiofusion from a single practice to seven in such a short space of time, in such a highly competitive sector.

“We work closely with our customers, from start-ups to established firms, to ensure that we are able to offer support and guidance specific to their needs, so that they are able to take advantage of growth opportunities as and when they arise.”

This was posted in Bdaily's Members' News section by Sophia Taha .