Veincentre targets UK rollout with new seven-figure refinance

VEINCENTRE, the UK’s leading provider of treatment for varicose veins, is looking to expand its number of clinics across the UK this year having secured a seven-figure refinance from Santander following investment from Palatine Private Equity in 2019.

Veincentre uses Endovenous Laser Ablation (EVLA), a non-invasive, non-surgical treatment for varicose veins. The benefits of this are reduced surgical and recovery times, as well as reduced signs of scarring and damage.

The company was backed by Palatine’s Impact Fund in July last year in a deal led by Beth Houghton, Head of the Impact Fund, with support from James Gregson and James Painter. The Fund targets companies with a positive social and/or environmental impact alongside industry-standard returns.

Since the investment, Veincentre has launched two new clinics in Glasgow and Leeds, which brings the total to nine clinics nationwide, including Bristol, London, Manchester, Nottingham, Oxfordshire, Southampton and Stoke. The new funding will facilitate expansion of additional clinics, as it looks to launch a Liverpool site in Q1 2020 and a further two new clinics before the end of the year. Veincentre is also investing in digital transformation with the development of a new website and digital marketing strategy.

Palatine has also sought to strengthen the Veincentre board since the investment. In November 2019, the firm appointed David Harrop as Chairman, adding further expertise to the management team. David has extensive experience in the healthcare sector, having held roles at Orla Healthcare, HCA, Medical Research Council and the NHS.

David West, Medical Director at Veincentre, said: “Our ambition is to provide an affordable service to as many patients as possible, and a key part of this is making sure we have a presence in each of the UK’s major cities and regions. Palatine’s investment, along with the support from the team, is helping us realise that vision, and this additional funding will facilitate further expansion.”

James Painter, Investment Director at Palatine Private Equity, said: “Veincentre serves as another great example of Palatine’s strong track record of executing rollout strategies, along with Gusto, The Alchemist, Estio Training and Trade Skills 4U. We are pleased to have opened two new clinics in the first six months of our investment and look forward to supporting the management team in growing the portfolio of clinics further.” 

Sponsor

Our Other Titles

Latest

Global investment firm backs small UK producer in a bid to make the startup a billion-dollar no low alcohol brand

WITH THE rise and rise of the no and low alcohol category, global investment firm, Lightspeed Venture Partners, has handpicked new UK...

Assetz Capital provides £1million loan to fund new residential development

MARKETPLACE lender Assetz Capital has provided a loan in excess of £1m to Status Properties Ltd to help fund the development of new apartments on...

177 Bothwell Street to contribute £2.8 billion to Scotland’s economy

HFD GROUP’S ambitious new office development at Glasgow’s 177 Bothwell Street is set to generate a substantial, long-term contribution to the Scottish...

Middle East investors deployed £230m into Scotland in 2019

RESEARCH released by global real estate advisor CBRE has revealed that the UK regions outside of London were the preferred destinations for...

Scottish education funding rises to £3.57 billion

EDUCATION and skills funding will rise 1.7% in real terms to £3.57 billion, under the proposed Budget 2020-21. Speaking...