No credit crunch for Momentum Corporate Finance clients
October 2009
The Hospital Medical Group, a leading plastic and bariatric surgery group, is the latest firm to utilise the debt advisory services of Momentum Corporate Finance.
In the face of stiff competition from other lenders new facilities were agreed by Momentum with Barclays Bank. These facilities will help to fund the continued growth of the Hospital Medical Group.
"We hear a lot of rhetoric about difficulties faced by businesses seeking funding in the credit crunch. This is completely at odds with our experience," commented Momentum's partner Tony Kenny. He added "lending is always available for high quality businesses. The extent of the competition to provide funding for the Hospital Group demonstrates that the best businesses will always attract funding whatever the market conditions may be."
Founded in 1992, The Hospital Medical Group now has 16 clinics throughout the UK, and further clinics in Ireland and Spain. These facilities include a clinic in Bristol's prestigious Queen Square. Most procedures are carried out at the luxurious, state of the art, Dolan Park Hospital in Worcestershire.
As part of the finance raising a shareholding restructuring was arranged for the Hospital Medical Group which resulted in managing director David Ross increasing his shareholding and finance director Gerard Barnes joining the share register.
David Ross commented "Momentum Corporate Finance not only helped us to select and negotiate with our new funding partner but they provided invaluable strategic advice which will assist us in delivering further growth. We have asked the Momentum team to continue their involvement as we roll out our expansion plans."
As well as providing a very wide range of plastic surgery procedures The Hospital Medical Group is a leading provider of bariatric (weight loss) surgery. Indeed, it undertakes more weight loss procedures each year than the entire National Health Service! It also has a successful hair transplantation business, a growing cosmetic dentistry practice and provides a range of non surgical treatments such as Botox.
Further information
Momentum Corporate Finance LLP is the West's leading firm of independent Corporate Finance advisers. Founded by ex PwC partner Tony Kenny in 2005 along with fellow partners Rob Crews and Alastiar Boorman, the firm is well established as the region's leading adviser on Management Buyouts. Other services undertaken by the firm include advising on the sale of businesses, acquisitions, and both equity and debt fund-raising. It focuses on advising mid market businesses, principally those with profits of between £1 million to £20 million.