The funding will allow Preston-based Burgess to invest in new scanners and grow the number of vets it services in the UK.
Burgess was founded in 2003 to take MRI and CT scanning services, which were previously reserved for human medicine, to veterinary surgeons and pet owners. The business has grown significantly and has a network of 65 scanning sites across the UK. The veterinary services sector is worth an estimated £3bn a year and is forecast to continue growing at more than four per cent per annum through to 2020.
Mike Hadfield, managing director of Burgess, said: “This is an exciting time for Burgess Diagnostics as we continue to accelerate our growth plans. Previously reserved for human medicine, MRI and CT scanning procedures are safe and highly effective methods of producing clear cross sectional images of the body. Our main objective is to make these valuable diagnostic tools accessible and affordable for veterinary surgeons and pet owners alike.”
Jill Bolton, Richard Goldsack, and Duncan Morpeth from Grant Thornton also worked on the deal. Other advisers involved in the deal were Squire Patton Boggs (Paul Mann and Louisa Hine), who advised the shareholders and management, Schofield Sweeney (Adrian Ballam and Catherine Umpleby) and RSM (Stephen Green and Rob Atkinson).