Care provider secures funding from RBS to support on-going growth strategy

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PrintManchester based national care provider, Human Support Group Ltd (HSG), has secured a funding deal with The Royal Bank of Scotland (RBS) and RBS Invoice Finance to support its on-going expansion plans.

 

The company, who reported 26% growth for the financial year 2014-2015 is focused on expanding the business and specifically looking to grow its provision of re-ablement care. It has also recently been announced as a finalist in the Health Investor Awards for 2015 under Domiciliary Care Provider of the Year.

 

Ashik Dossajee, Finance Director of HSG explains: “Re-ablement care is one area that we have focused on specifically. It enables a patient to leave hospital earlier with enhanced care at home for up to six weeks. Some Local Authorities have recently opened this provision up to private care providers and is an area which has significant growth opportunities.”

 

Established in Manchester in 1998, HSG provides care services to Local Authorities and private individuals throughout the UK. The company works predominantly with adults, providing domiciliary, re-ablement and respite care, along with independent living support. The company also provides a wide range of services to people with learning and physical disabilities, mental health support needs, dementia, and to people in extra care schemes and living in supported living accommodation.

Ashik Dossajee, Finance Director of HSG continues: “The funding we have secured with RBS is allowing us to focus on expanding our core business and to accelerate our investment in developing our re-ablement services. It is predicted that as budgetary pressures continue to increase and the UK population continues to age, opportunities will exist for providers who are developing and delivering flexible services to meet this growing demand.”

 

Stuart Watson, Director of Corporate Transactions at RBS said: “We are very pleased to have this opportunity to work with HSG. Our loan structure reflected the forecasted cash generation of the business rather than rely on a more traditional security based approach and demonstrates our ability to provide a complete and flexible funding solution.”

 

HSG is led by Dan O’Donoghue Managing Director alongside his management team of Rachel Caulfield Operations Director, Fiona Tate Performance Director, Dan Masters Commercial Director, Ashik Dossajee Finance Director and Tina Roche Assistant Operations Director.

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