Sports injury clinic feeling sprightly after buyout

A physiotherapy and sports injury clinic in Leamington is in new hands after a long-serving employee completed a management buyout.

Karen Smith has taken over The Cloisters Physiotherapy and Sports Injury Clinic in Leamington from Ruth Cowan, who originally founded the business in 1983. The business now has a 10-strong team of qualified physiotherapists serving around 600 clients a month.

She plans to expand its home visit service to meet a shortfall in what the NHS is able to provide.

Currently two physiotherapists work from the clinic to deliver home visits, and with the NHS under pressure to free beds up for patients to avoid bed-blocking, The Cloisters will now provide more services for those needing treatment in their own home.

Smith, who has worked at The Cloisters for more than 20 years, purchased the business with assistance from the corporate finance team at chartered accountants and business advisors Harrison Beale & Owen (HB&O).

She said: “We are continuing to grow via word of mouth referrals but not everybody that needs our help can get in to the clinic, particularly some elderly people who are being discharged from hospital earlier than normal, this is why we are looking to expand the number of physiotherapists who can carry out home visits.

“The long-term vision is to be able to support those people who are being discharged earlier from hospital by providing them with a high level of care in the comfort of their own home.”

Greg Philp, head of corporate finance at HB&O, added: “Ruth wanted to retire without impacting the business and came to us for advice, whereby we have managed to structure a deal that has enabled a long-serving employee to take over the reins.”

The deal was also advised by Barclays, Band Hatton Button and Claric Legal Services.