Lloyds lends £20m more to Rushcliffe Care
Major provider Rushcliffe Care has secured a further £20m from Lloyds TSB to finance the company’s ongoing expansion plans, in addition to the £50m raised from the bank last October which was used in part to enable Rushcliffe to acquire SPEED 6000 Ltd – a business now trading as Rushcliffe Independent Hospitals (Aberavon) Ltd.
Following the purchase of the business in Wales, Rushcliffe Care opened its first independent mental health hospital in July and plans to open two more hospitals later this year at locations yet to be announced. The latest funding package – which will be used to finance further acquisitions and new build developments – was arranged by Neil Heppenstall of Lloyds TSB Corporate Markets, Rushcliffe Care’s relationship director.
Rushcliffe Care chief executive Surjit Singh Rai said the new funding would allow Rushcliffe Care to continue to grow the business and strengthen its position as one of the largest independent healthcare groups in the UK.