BGF exits investment in Renal Services
BGF, the UK’s most active investor in growth economy businesses, has successfully exited its investment in Renal Services, an independent provider of dialysis services, after it was acquired by DaVita UK Limited, a DaVita International Group Company.
Headquartered in London, Renal Services operates 21 dialysis units across the UK and treats over 1,300 permanent and transient patients with kidney disease. Set up in 2007, Renal Services is the third largest dialysis provider in the UK.
Alongside its equity investment, BGF contributed additional support to the company through the introduction of James Buckley as Non-Executive Chairman. James has an extensive background in the healthcare sector, formerly as CEO of Tunstall Group, Chairman of Ark Home Healthcare and Mangar International, and Non-Executive Director of Prism Medical.
Founded and led by serial international healthcare entrepreneur Stefano Ciampolini, Renal Services has opened 16 new clinics in the UK since BGF invested as a minority equity partner. The business has also posted strong organic growth during this time.
Stefano Ciampolini, founder and former CEO of Renal Services commented: “When we met BGF, we had ambitious plans for growth and a strategy to increase our provision of sites to meet patient demand. BGF was instrumental in helping us to execute our plan and make our company the fastest growing dialysis provider in the UK with a CAGR of approximately 30% since 2014.
“Our inspired patient care and clinical quality outcomes have progressed steadily over the years, making Renal Services a leading provider of dialysis care for people with kidney disease. I am also very proud of how the management team and senior staff have developed and grown professionally over the years. Personally, this has been an exciting and rewarding journey and I am confident that all stakeholders will benefit from the leadership and global experience provided by DaVita going forward. The team will now be led by Kathy Lloyd who was the first member to join me at the start of the venture in 2007.”
Matthew Simcox, investor at BGF, said: “Renal Services is a robust, ambitious business that has grown significantly over the last six years. With our investment, we have helped take Renal to the next level, through the development of new sites, services and technologies. The business has seen steady growth during this time and has delivered a strong return for BGF. We wish the team all the best on the next stage of their journey.”
About BGF
BGF was set up in 2011 and has invested £2.5bn in nearly 400 companies, making it the most active investor in the UK. BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the UK and Ireland through its network of 16 offices. In 2018, Canada launched its equivalent – the Canadian Business Growth Fund – and in 2019, Australia did the same, both based on BGF’s funding model.
About Renal Services
Founded in 2007, Renal Services operates 21 dialysis units across the UK with more units under development. The company aims to improve patients’ quality of life, allowing them easier access to local haemodialysis and more personal freedom.
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