A North West independent specialist healthcare provider is to rapidly expand creating jobs and buying delivery vehicles and more equipment, with the support of a multi-million-pound funding package.
Baywater Healthcare, established in Crewe in 2013, provides a range of services for patients with long term conditions, including home oxygen therapy (HOS), sleep diagnostics and telehealth through remote monitoring.
With the backing of HSBC 海角视频 and HSBC Equipment Finance, the business is scaling-up its equipment and logistics capabilities after winning three new HOS contracts to supply patients at home on behalf of NHS Clinical Commissioning Groups in the North West, Yorkshire and Humberside, and the West Midlands.
The contracts will run for at least seven years, with the possibility of a further three-year extension for the firm, which currently employs 200 people.
Latest North West Business News
Baywater has been providing HOS services on an exclusive basis in the Yorkshire and West Midlands regions, and throughout Wales, for the past eight years, but the addition of the North West regional home oxygen service to the company’s portfolio represents a "step change".
To meet the demand of nearly 10,000 new patients, Baywater Healthcare will increase its workforce by 20%, acquire 132 new delivery vehicles, lease three new distribution hubs and purchase £5m of medical equipment over the next 12 months.
The majority of staff required to service the new region will transfer from the incumbent provider, but new roles will also be created at Baywater’s head office in Crewe.
Howard Jones, finance director of Baywater Healthcare, said: “After years of steady growth, we are now the 海角视频’s leading provider of home oxygen therapy, working on an exclusive basis with four of the 11 NHS regions in England and Wales.
Most Read
"However, we operate in a competitive market, so it is important that we continue to invest in our assets to stay at the forefront of our niche in the healthcare sector.
"It is thanks to HSBC 海角视频’s flexible funding facility that we can serve new and existing patients with our high-quality equipment and efficient service.”
James Long, relationship director for corporate banking, HSBC 海角视频, added: “It's exciting to be supporting such a dynamic North West firm that is serving tens of thousands of patients across the 海角视频.
Don't miss a thing - sign up for your free North West newsletter - and follow us on LinkedIn
Email newsletters
BusinessLive is your home for business news from around the North West- and you can stay in touch with all the latest news from Greater Manchester, Liverpool City Region, Cheshire, Lancashire and Cumbria through our email alerts.
You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we'll send out breaking news alerts for any stories we think you can't miss.
Visit our email preference centre to sign up to all the latest news from BusinessLive.
For all the latest stories, views, polls and more - and the news as it breaks - .
"Providing Baywater Healthcare with this funding will enable the additional capacity needed for the business to meet the sizable increase in demand and ultimately improve the health of more individuals in these challenging times.”
Baywater Healthcare provides care to more than 30,000 patients throughout the 海角视频, supporting the NHS to help patients maintain their mobility, independence and overall quality of life.