Funding will aid veterinary firm's growth
Burgess Diagnostics, the UK's only dedicated provider of mobile imaging services to the veterinary sector, has secured backing from Leeds-based investment fund Solingen Private Equity.
The funding will allow Preston-based Burgess to invest further in new scanners and grow the number of veterinary establishments it services in the UK.
Burgess was founded in 2003 to take MRI and CT scanning services, previously reserved for human medicine, to veterinary surgeons and pet owners.
The business has grown significantly over the past few years and currently 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 ambitious 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.
“At Burgess Diagnostics, our main objective is to make these valuable diagnostic tools accessible and affordable for veterinary surgeons and pet owners alike.
“We are confident that with Solingen’s hands-on approach and understanding of our business they are the perfect investment partner for Burgess at this stage in our development journey.”
Richard Goldsack, partner at Grant Thornton in Leeds who advised the shareholders of Burgess, added: “Burgess Diagnostics is a fantastic example of a business identifying and establishing a new niche market and driving growth.”