B.E.S. REHAB LIMITED
BES Rehab, now named BES Healthcare, provide mobility and daily living products to the NHS for people with disabilities. They support the medical professionals responsible for the prescription and provision of such equipment, with a range of brands selected to improve quality of life. Returning for their second raise, BES Healthcare will use the money raised to redesign newly acquired medical equipment and free up working capital.
Enabling independent living
As well as our products sold via our online shop, we have also been instrumental in the healthcare industry by taking part in assessment processes, working directly with healthcare professionals, and helped out with fittings on different models of wheelchairs. We also offer training programmes on clinical and practical information related to pressure care, posture and positioning, and more. In fact, we've received recognition for this, having won many awards for being an excellent distributor in the UK. Furthermore, The British Healthcare Trades Association (BHTA) has awarded their prestigious Lifetime Achievement Award to entrepreneur and educator, our director, Dr Barend ter Haar.
We are returning to Crowd2Fund after having raised a year ago, this time to redesign and retool medical equipment. We have acquired a company which has been manufacturing equipment for children with mild disabilities for over 30 years. There is potential for us to expand the sales of these products into export markets, but the products first need some work to modernise them, but also adapt the design so that it can be flat-packed for easier shipment and reassembling in other countries. Meanwhile, keeping our customer at the heart, we aim to develop these products together with clinicians to ensure we create the right solution for children to enable independence and a better quality of life.
Where will the funds go?
A. The acquired company was purchased 3 years ago and its figures are included in the total figures for the last couple of years. It added about half a million pounds to our turnover and in the 2017/8 financial year we closed its unit in Abingdon and merged its activities into out Bristol unit, thereby reducing the total overheads. The sales are profitable, but some of the funds raised are to go towards modernising the range for the current day and for easier export.
A. Which acquisition are you referring to?
A. Part of the business had been supply of endoscope reprocessing machines and consumables. The equipment involved was discontinued by the supplier, and so this end of our business has been in decline. We have been finding replacement product lines to distribute, but they have been on a smaller scale. Our current strategy is to concentrate more on our own lines (and be less dependent on external 'Principals') that we acquired a short while ago, hence part of the reason for the funding round.
A. YTD figures with a months to go is T/O of £3241K and NP £300K. We are still finalising next year's projections.
A. You are right, and this was part of our strengthening top management as original owner/directors enter retirement. However action has been taken to reduce headcount at all levels, and for our next financial year there will be a sharp reduction in overheads.
A. Shorter term loans from a lender with a very high interest rate.
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