March 20, 2019 Finance

Leicester healthcare business expands with HSBC UK Finance

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Leicester-based Spirit Healthcare, part of the Spirit Health Group, has secured a six-figure finance package from HSBC UK to support the expansion of its business.

The business is a forward-looking healthcare organisation which has saved the NHS millions of pounds and improved the lives of thousands of patients. Their innovative products and services focus on providing the very best value healthcare whilst empowering people to take control of their own health.

Spirit recently secured the management of Brownsover Medical Centre in Rugby and a diabetes education booking service across South London. The HSBC UK finance will support the delivery of these new contracts, providing the funding to enable the creation of 16 new jobs.

The deal also allows Spirit to increase its range of services, including ‘EMPOWER’, a programme delivered in the community for the education of diabetes patients, and ‘CLINITOUCH’, software which enables clinicians to monitor and manage patients with a variety of long-term conditions in their own home.

The EMPOWER diabetes education service is designed to help people better manage their diabetes and reduces blood sugar levels by an average of 10% in those completing the course. In England less 10% of people referred to a diabetes education course by their GP complete one, however where EMPOWER is delivered the percentage of patients completing rises to over 50%.

CLINITOUCH, a digital solution developed by Spirit, is used in the NHS to support people with severe respiratory conditions, amongst others, and has reduced unplanned admissions to hospital in these people by 67%.

As a result of the funding, Spirit will be able to increase the number of patients it engages with from 50,000 to over 200,000 and aims to grow turnover from £10.2m to £18m by 2020.

Roger Pratt, East Midlands Corporate Banking Area Director, HSBC UK said:

“Spirit is helping deliver healthcare through innovative technology and we’re thrilled to be able to support the business in improving patient care. This finance package will enable Spirit to manage its new GP practice contracts and provide health management education to even more patients across the UK.”

Chris Barker, Founder of Spirit Healthcare, said:

“Our HSBC UK Relationship Director, Richard Parker, was able to provide us with a finance package to support our ambitious growth plans. We look forward to bringing new technologies and services to NHS patients, which will help us achieve our aim of making the world a healthier and happier place through our clinical services and healthcare management technologies.”

This deal is part of HSBC UK’s £500 million lending fund to support small and medium-sized enterprises (SMEs) in the East Midlands.

 

Pictured above:  L-R Chris Barker, CEO – Spirit Healthcare, Richard Parker, Relationship Director – HSBC UK, Stephan Wood, Deputy Relationship Director – HSBC UK, Jo Tudge, Head of Finance – Spirit Healthcare at Asquith Surgery, managed by Spirit Healthcare.

 

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