SpaDental Management, who have their management offices at Wyastone, near Monmouth, have secured an additional £17million of finance to fund their ambitious dental practice acquisition programme. Using this facility they expect to acquire a further 30 joint venture partnership practices and at the same time take on additional staff in the near future in their Management Centre at Wyastone. Managing Partner Andrew Wall said "We are delighted to have secured £17 million to support our expansion plans, especially in the current financial climate and to have received the support of The Royal Bank of Scotland ("RBS) and others. "Achieving this has been a challenge, but equally confirms the strength of SpaDental's business model, and also the excellent team of staff we have locally. The challenge is now is to build the business in these uncertain times." Charles Davey, Associate Director, Structured Debt Solution, RBS, added "It really is great to find new businesses which are local and developing so well. We at RBS are very pleased to have built this relationship, and wish Spa Dental Management and the team in Monmouth every success." The funding has been led by a £15 million credit facility from the RBS, a leading funder in Health Care services. This has been supported by Hafren Ventures LLP who have provided up to £1m of equity and long term finance and Julian Hodge Bank PLC who have provided a £1m facility to fund property acquisitions.
.