Leeds-based healthcare firm receives £8m investment from BGF
Founded in 2020 by Ryan Allen, Mohammed Nazir and Professor Gary Shuckford, PCP is a primary healthcare service which provides physiotherapists and podiatrists to Primary Care Networks (PCNs). The company currently employs over 300 clinicians.
The company noted that the significant investment from BGF would allow it to execute its growth strategy, while helping to alleviate challenges facing the primary healthcare market, including chronic GP shortages and growing musculoskeletal issues.
Jon Lowe, the former CEO of Connect Health, will join the business as Non-Executive Chair. Dean Barber will also join as chief financial officer.
Commenting on the deal, Ryan Allen, CEO at Primary Care Physio, said: “With a growing, ageing, and increasingly complex patient landscape, there is an unprecedented need for a flexible and fast musculoskeletal platform that enables GP practices to continue to deliver best practice care. At PCP, we enable PCNs to meet their objectives.
“To achieve our wider strategic aims, we wanted a minority investment partner that recognised the vast potential that exists – not only in our business, but in the wider marketplace. We also wanted to work alongside an investor that could adopt a patient and long-term outlook, but equally had a strong track record of helping businesses to capitalise on the opportunities ahead of them.”
The deal was led by Chris Boyes and James Baker, investors in BGF’s Yorkshire team.
BGF’s Chris Boyes said: “PCP is an exciting and rapidly expanding business in a sector with significant potential, led by a highly experienced management team, with strength and depth in the primary care market.
“We’re delighted to be supporting PCP’s ambitious growth plan. As the primary care market continues to recover from the pandemic, PCP is well placed to maintain its rapid growth, supporting the delivery of patient outcomes. We look forward to partnering with Ryan and the wider PCP team as we continue to scale the business.”