ThinCats breaks through £100m lending milestone in healthcare sector
ThinCats, the alternative finance provider to mid-sized SMEs, has passed through £100m of lending to healthcare businesses across the UK.
In early 2020, ThinCats appointed Richard Henshaw to lead its healthcare team and to focus on providing lending options to residential, nursing and dementia care homes as well as the many specialist care homes in the field. Richard’s experience is unique to the industry with 15 years specialising in healthcare lending and six years as a care homeowner.
ThinCats has expanded the healthcare team with dedicated credit and support services, enabling the lender to fund over £65m in the last 12 months alone.
Recently, ThinCats has supported North West based care home operator, We Care Group with almost £5m for acquisition funding. Additionally, ThinCats provided the West Midlands based healthcare provider, Pegasus Care with £4.4m to acquire a residential care home in Derbyshire.
Richard Henshaw, Director of Healthcare, ThinCats: “We are delighted as a team to reach this milestone and we have a strong pipeline of transactions in the months ahead. Healthcare is a huge and important sector for the economy and we’re pleased that we can continue to help businesses grow.”
Mike Hackett, Head of Business Development, ThinCats: “Growing our healthcare division and supporting more customers in this space is a priority for us over the foreseeable future. We’ve done a lot of work over the past couple of years to support the care home sector in particular, but there are large number of SMEs in the healthcare supply chain that want to grow and need funding options. We are well capitalised and have the experience to support these companies.”