London Healthcare Firm Acquires Two Sites With Support From HSBC UK

London home care service provider BioLuminuex Healthcare has acquired two new sites with support from HSBC UK.

BioLuminuex Healthcare has used a £650k funding package from the bank to purchase the two sites in East London totaling 2650 sq. ft. The business will use the new sites to advance its research and development into healthcare technologies.

The acquisition comes as part of the company’s growth strategy to embed technology, such as real-time patient monitoring into healthcare, and drive business in at home supported living services.

BioLuminuex Healthcare has recently secured tender to supply its services to the London Borough of Sutton and is bidding on tenders with other London boroughs, which will allow the company to support local authorities and the NHS with delivering vital healthcare services.

For each new tender, the company anticipates an extra 5,000 hours of care to be provided per week, resulting in a revenue increase of £5.4 million per year. BioLuminuex Healthcare expects this to create up to 100 new jobs, with roles such as healthcare assistants and compliance staff.

Abdul Hadi, Chief Executive Officer at BioLuminuex Healthcare, said: “It’s an exciting time for the business as we move into two new sites and progress our research and development of healthcare technologies as we continue to support communities across London.

“The team at HSBC UK has been incredibly supportive and we’re really impressed by the bank’s commitment to assisting us with the expansion of our business.” 

Raj Yadav, Senior Commercial Manager at HSBC UK, commented: “BioLumineux Healthcare is a well-established healthcare provider in London, and we’re delighted to be supporting them with the acquisition of the two new sites, which will allow the business to innovate and contribute further to the home care service industry.”

Established in 2013, BioLuminuex Healthcare provides domiciliary care, supported living services and health and social care workers to the public and private sector, including local authorities and the NHS.

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Lisa Baker is the Editor of Always Finance, and writes about Business, Finance Technology and Healthcare. Lisa is also the owner of Need to See IT Publishing.