National law firm Shoosmiths has advised Renal Services (UK) Limited, a provider of independent dialysis services to NHS patients, on its £3.1million investment from the Business Growth Fund (BGF) which was completed in November 2014.
The investment by BGF provides working capital for Renal Services to open and run new centres across the UK, including two new contracts to build and operate three centres in Northumberland and the East Midlands. BGF has in turn taken a minority stake in the company.
Shoosmiths’ Milton Keynes corporate team advised on the transaction. Corporate partner Sanjeev Sharma was assisted by Iain Butler (corporate senior associate) and Aleks Bosch (trainee solicitor). Support was also provided by Shoosmiths’ tax and employment teams.
Renal Services is the fourth largest provider of dialysis in the UK and currently runs six dialysis centres across the UK, operating 63 dialysis stations and treating approximately 700 permanent and transient patients on behalf of the NHS. Approximately 95% of treatments are delivered to permanent local patients.
Stefano Ciampolini, CEO of Renal Services (UK) Limited, said: ‘Sanjeev Sharma and his team gave us valuable insight on how to engage with BGF and provided guidance on the key issues to focus on early in the process in order to avoid stumbling blocks for the successful completion of the deal. It was a stress free transaction and we would be happy to recommend Sanjeev and his team.’
Shoosmiths corporate partner, Sanjeev Sharma, said: ‘We are very pleased to have acted on behalf of Renal Services at an important stage in the company’s growth and development. We wish them every success going forward.’