Lloyds Bank backs Lytham dental practice growth
A dental practice in Lytham has been acquired by new owners and will be boosting the services on offer to patients, with the support of a six-figure funding package from Lloyds Bank Commercial Banking.
The Lytham Dental Clinic was bought by Stuart and Amy Barnes earlier this year from previous owner Tim Williams.
He will now step back from running the business but will still be based at the practice as a dentist.
Since buying the site the pair have increased the services on offer to patients, including extending clinical hours and services available.
They will also be investing in a state-of-the-art 3D scanning machine, which will provide a more accurate picture of people’s teeth.
It will remove the need to take physical impressions for a range of general and cosmetic procedures, consequently reducing overall treatment and production times.
As a result of the expansion the business has experienced a 40% increase in patient numbers, and expects to boost its turnover by 20% by the end of 2018.
Lytham Dental Clinic was founded in 2005 and is based on Clifton Street in Lytham town centre.
The surgery provides a range of services to more than 1,000 patients, including specialist gum care, cosmetic dentistry and dental implants.
Stuart said: “The surgery had an excellent reputation for providing the highest standard of care to patients, and we wanted to continue to build on this by increasing the range of services on offer.
“The relationship team at Lloyds Bank were a vital support throughout the acquisition process.
“They took the time to understand our plans and as a result were able to offer a tailored funding package that exactly suited our needs.”
David Eaves, business development manager at Lloyds Bank Commercial Banking, said: “Lytham Dental Clinic is an example of a thriving independent practice that is adapting its services to suit the changing needs of patients.
“Our recent Healthcare Index has revealed that confidence amongst dentists has risen in the past 12 months, with the majority of firms surveyed planning for growth.
“To ensure that they can successfully implement their plans, we have a team of specialist healthcare relationship managers who are working closely with businesses to provide the tailored support they need to prosper.”
