About the client
Veincentre is an excellent business that is meeting an unmet need in healthcare.
Veincentre delivers specialist treatment for varicose veins, using Endovenous Laser Ablation (EVLA). Utilising EVLA – a non-invasive, non-surgical procedure – Veincentre can reduce the surgical and recovery times associated with traditional forms of treatment, meaning patients can often have their veins treated in their lunch-hour. EVLA also significantly reduces scarring, limiting the damage done by the condition.
Following the withdrawal of NHS funding for varicose vein sufferers – due to their ‘non-essential’ status – Veincentre is well-placed to offer affordable, accessible treatment to patients across its seven UK-wide clinics.
About the deal
Rickitt Mitchell has successfully advised Veincentre on a refinance process which has resulted in significant funds being received from Santander. This follows investment from Manchester-based Palatine Private Equity in July 2019.
Veincentre, a provider of treatment for varicose veins, plans to utilise the funds to facilitate the expansion of additional clinics, as it looks to launch a Liverpool site in the first quarter of 2020 and a further two new clinics before the end of the year.
The Company will also invest further in digital transformation with the development of a new website and digital marketing strategy.
Veincentre was advised by Neil Mitchell and Kaine Smith at Rickitt Mitchell.
“Veincentre is a fantastic business with ambitious plans to expand its affordable service provision across the UK. We look forward to supporting the company with its growth strategy over the coming years.”Kaine Smith | Rickitt Mitchell