Mercia Asset Management : Loan will help new animal hospital invest in state-of-the-art equipment

A veterinary practice, which has built a new animal hospital in Bridlington, has secured a £500,000 loan from NPIF - Mercia Debt Finance that is managed by Mercia and part of the Northern Powerhouse Investment Fund (NPIF), to buy state-of-the-art equipment.

Aldgate Veterinary Practice's new £1.7m facility is the only one of its type in the area and can be used by vets throughout the East Riding to perform operations instead of having to refer patients to Leeds. It will also enable the practice to offer 24-hour emergency care, which has not been available in the area for some time.

The hospital, which opened its doors in November, has five consultation rooms with separate dog and cat waiting rooms, a dental theatre and three operating theatres including one for orthopaedic surgery. It will offer a CT scanner, ultrasound, x-ray and endoscopy facilities.

A hydro pool and treadmill will allow the practice to expand its rehabilitation and pain management services, which include acupuncture and laser therapy, which are becoming increasingly popular services as part of a holistic treatment package.

The new hospital on Hilderthorpe Road has replaced Aldgate Vets' previous premises in Wellington Road. Established over 90 years ago, the practice also has a site in Driffield. It now employs over 70 staff in total across the two locations, having created around 20 new jobs since the launch of the new hospital.

David Smith of Aldgate Vets said: "In building the hospital, our aim was to provide the very best service and facilities in East Yorkshire. Now it is up and running, the funding will enable us to equip it with the latest technology."

Rebecca Pickering of Mercia said: "Aldgate Vets has created a valuable new facility in Bridlington and one that will be of benefit to other vets and pet owners in the area. We are pleased to be able to play our part and support them by providing funding for equipment."

Sean Hutchinson at the British Business Bank, said: "NPIF investment has always aimed to support ambitious business that provide vital services for its local community. As Aldgate Vets invests in new technology and expands, it will be contributing to the regional economy through its success. By supporting businesses to recruit new staff and move premises, NPIF takes a step closer to creating a prosperous regional economy."

David Dickson, a member of the NPIF RAB and Chair of the Regional Infrastructure Board commented: "We are delighted to support Aldgate Veterinary Practice with this £500,000 loan to finance the building of this new facility and to continue its sustainable growth."

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.