PS10m deal for healthcare provider CHS.
A SPECIALIST healthcare services provider has agreed a PS10million funding deal.
Sutton Coldfield-based CHS Healthcare specialises in arranging packages of care for patients who wish to return to their own homes as well as offering advice for people moving into a care home.
The company has now agreed the minority equity deal with investor BGF.
CHS Healthcare was founded in 1995 by GP Richard Newland because he felt that families needed more support and expert advice when choosing a care home.
It is still headquartered in Sutton Coldfield but employs more than 300 people nationwide, contracting with more than 60 NHS hospitals and clinical commissioning groups.
The firm aims to help reduce delays to hospital discharge, considered one of the most pressing challenges for the NHS which often occur because patients are medically fit to leave hospital but unable to do so because of delays in choosing a care home or in arranging care in their own home.
Mr Newland said: "We are absolutely delighted to embark on this partnership with BGF, who recognise the strengths of our business with this investment and, equally, bring the highest calibre of business expertise to support the work we do."
Gurinder Sunner, investor with BGF, added: "CHS Healthcare has developed excellent relationships with its customers by focusing on quality of delivery and care and operational efficiency.
"We are pleased to be supporting Richard and the wider team as they continue to grow the business."
The investment was led by Mr Sunner, James Syrotiuk and Chris Nixon of BGF which was advised by Gateley, Claritas and Secantor.
CHS Healthcare was advised by KPMG.