A Midlands-based care group has purchased two new care businesses after securing an £840,000 finance package from Birmingham Press Club sponsor HSBC.
iBC Healthcare is one of the UK’s largest and fastest growing specialist care providers for adults with learning disabilities and mental health issues. The business, which provides support to over 160 individuals with disabilities, has used the loan from HSBC to acquire two care businesses in Birmingham and Derbyshire.
iBC Healthcare, headquartered in Leicestershire, has purchased Forward Day Services, Birmingham, which promotes independence and provides support for service users who have a variety of complex needs, and Tarry Hill Residential Service in High Peak, which offers support to people with learning disabilities & autism.
The deal will aide iBC Healthcare in responding to increased demand for health and social care facilities across the region and will also lead to the creation two new managerial roles to support the newly acquired services and provide a better experience for service users. The acquisitions also mean that iBC Healthcare now holds further contracts with Leicester City Council, Leicestershire County Council, Nottingham City Council, Nottinghamshire County Council and Derbyshire County Council, with the aim to attain more facilities across the UK this year.
Debbie Harper, HSBC’s Area Director for Business Banking in Coventry & Warwickshire, said: “iBC Healthcare has an outstanding reputation for service delivery within the sector and the support from HSBC will enable the group to continue to respond to the growing requirements from different local authorities and provide tailored support for a variety of complex needs.
The funding was arranged by HSBC Relationship Director, Rakesh Patel, pictured here with Nizam Bata (left), managing director of iBC Healthcare.
Meanwhile, HSBC has also provided a loan to PKF Cooper Parry, the business advisory and accountancy firm, which went towards the fit-out of its new flagship offices at Blythe Valley, Solihull.
Roger Pratt, Area Director for Corporate Banking at HSBC in the East Midlands, said: “PKF Cooper Parry has a strong plan for growing beyond the Midlands and this new base will create the perfect platform for that expansion.”
James Parnell, Chief Financial Officer at PKF Cooper Parry, said: “We’re grateful for the financial support HSBC provided to enable the move to Blythe Valley Business Park and the creation of our fantastic new office.