Member Article

Manchester-based care provider HSG secures RBS funding deal

Human Support Group Ltd (HSG) the Manchester-based care provider has secured a funding deal from The Royal Bank of Scotland (RBS) to support its expansion plans.

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, reablement and respite care, along with independent living support.

The company, which has reported 26% growth for the financial year 2014-2015, is looking to expand its business further particularly in its provision of reablement care.

Finance director of HSG, Ashik Dossajee, explains: “Reablement 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.

“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.”

Director of corporate transactions at RBS, Stuart Watson, 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.”

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