ThinCats healthcare funding hits £150m milestone
Launching our specialist healthcare funding team in early 2020, just as Covid was first appearing in the UK, could be seen as unfortunate timing. However, two and a half years on, our ability to respond quickly in support of care home operators dealing with the immediate challenges of the pandemic, and with other opportunities that subsequently emerged, has been a true test of our commitment to the sector.
Headed by Richard Henshaw, Director National Development Healthcare, who joined ThinCats in February 2020, the team has so far provided funding of more than £150 million to the healthcare sector, primarily to operators of care homes.
As a previous care home operator himself, Richard is well placed to reflect on the sector’s response to events during his time at ThinCats:
I am in awe at how the Social Care sector has responded to Covid and how operators have responded in the face of challenges that have outstripped any previously faced. It is clear true heroes work in Social Care.
"But as we move post pandemic, some of the previous challenges remain and new ones have emerged. The sector continues to be underfunded by central Government, staff recruitment and retention is difficult and insurance and energy costs are rising rapidly. The legacy issues of Covid cases are still being felt and the regulators are also back to full scale inspections. All of this is squeezing margins.
Yet confidence and investment remains high. An ageing population will see pre-pandemic occupancy levels reached before the end of 2022. Care staff have been added to the list for EU recruitment and increased funding is promised. The pandemic has proved how critically important the care sector remains.
In addition, the quality of the UKs’ care home estate continues to improve, quality of care is rising and staff are increasingly being recognised as the skilled and qualified professionals that they are."
ThinCats works with a small number of advisers and brokers with specialist skills in finding the appropriate funding solutions for their healthcare clients. We believe our commitment to speed, flexibility and understanding the businesses we fund as a long-term partner, is what makes us different to other lenders.
A great example of this is care home operator We Care Group where we have worked closely with their adviser MAF Finance to fund a number of acquisitions. Watch video here.
Find out more about our Healthcare funding and other businesses that we have supported here.
