A niche company offering information services to legal teams working on personal injury and clinical negligence claims is planning for a period of growth after securing new facilities from Clydesdale Bank.
Based in Winchcombe, Gloucestershire, Medical Records UK collate and sort medical records for use in legal cases in ways in which are easy to understand. The company’s main services include: sorting & paginating medical records, identifying missing records, as well as the preparation of timelines for key events and preparing a full, detailed chronological resumé. Their most recent development has been the provision of medical records and reports electronically, in a format which allows document to be indexed and searched at the click of a button.
Medical Records UK has secured a six figure working capital facility from Clydesdale Bank. Given the lengthy time period associated with some cases, payment for services can take up to two years. The new funding recognises this and will support the company’s growth plans in the short to medium term.
The deal was arranged by business development manager, Mark Preston.
Medical Records UK was set up by Adèle Coates-Lyon in 2005. Adele became involved in the area following a car crash in 1998 where head injuries left her unable to read, write or even speak. Since then she has overcome her personal challenges and now has more than 13 years experience in her chosen field.
Adèle Coates-Lyon said: “We work in a complex sector where payment can take time so this latest support will be invaluable in supporting longer term growth.
“We’re approaching our tenth anniversary and have ambitious plans to drive the business forward and plan to further increase both our reach and the range of available services. We need to expand our team to manage the current influx of work. This would not have been possible without the support of the Clydesdale Bank which has worked closely with our team to help us realise our ambitions.”
Medical Records UK currently employs six full time staff and has recorded turnover of £300,000 per year. The company has plans to double its workforce and treble turnover in the next five years.
Sue Carter, Head of Professional Services Sector at Clydesdale Bank, said: “Medical Records UK is testament to the experience, drive and expertise shown by the management team and represents all that is good about the entrepreneurial spirit of businesses in the South West.
“As we begin to see signs of economic recovery, Clydesdale Bank remains focused on investing in the growth ambitions of the local business community.”