ThinCats supports leading care service provider with funding package
Community-based care provider Radis Community Care has successfully acquired two new supported living services with a funding package from leading alternative finance provider to mid-sized SMEs, ThinCats.
Established in 2001 by brothers, Samir and Deepesh Patel, Radis started as a small local provider of care at home primarily for older people.
The business is now a leading provider of community based social care and support for thousands of vulnerable adults and children in England and Wales. Radis supports people to live independently in their own homes, providing a wide range of care and support services for people with diverse backgrounds and needs, operating from 80 locations across the UK.
Radis sought funding to acquire Lucy Glyn Support Services Ltd in Stratford Upon Avon, providing supported living services in homes to people with complex needs and high levels of challenging behaviour in Warwickshire, along with Focus Care Services Ltd based in Bradford, providing support to individuals with learning and/or physical disabilities living in their own homes alongside a variety of children’s services.
The company was introduced to funder ThinCats by Mike Gascoigne, head of healthcare at MAF Finance Group, specialist healthcare broker based in Derbyshire.
Samir Patel, co-founder and executive director of Radis said: “We have worked very hard over the years to embed our reputation as a provider of quality services for some of the most vulnerable people in our communities. We now plan to build on this success, and these acquisitions provide the ideal next step in our growth strategy.”
Mike Gascoigne, MAF Finance Group: “’We are delighted to have worked with the great team at Radis on these acquisitions. The business continues to provide services at the heart of the community and the addition of these two groups will provide stability for their residents for years to come. Richard at Thincats delivered a flexible package of support, and worked quickly to ensure the transaction completed within the agreed timescales.’’
Richard Henshaw, director and head of healthcare, ThinCats: “Radis have a highly professional and comprehensive central team in place, and these acquisitions will enable them to diversify their offering and support a far wider base of vulnerable people. It has been a pleasure working with them, and also the team at MAF once again.”