More good news today.............21 Jun 2021 08:46
Jerry Randall, CEO commented: "I am delighted to announce the completion of this facility, as I had indicated was expected in our announcement of the acquisition of BBI Healthcare on 7th June 2021. This facility will significantly extend the reach of the cash we raised from shareholders in December 2020, leveraging the cashflows of the existing business and providing firepower for future acquisitions. As a profitable and cash generative business, it is key to our successful growth that we make use of this low-cost, non-dilutive funding at sensible levels, to both supplement shareholder support and minimise dilution. Interest rates remain at a low level and debt provides an efficient method to provide some of the funding for our growth.
We have been working with Santander, our main bank in the UK, and Silicon Valley Bank for some time to put this facility in place, and I am very pleased with the facilities now available and the support provided by both banks in getting to this point. I am sure this will be a long and fruitful partnership, and I would like to take this opportunity to thank Santander, Silicon Valley Bank and my colleagues internally for doing an excellent job in completing this facility. I am also delighted to have such blue-chip names supporting the growth of the business, which is a significant validation or our model, our vision and our team.