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HSBC Press release

Cambridge Vet Telemedicine firm set to invest in global growth

An ambitious Cambridgeshire telemedicine company which specialises in helping vets around the world diagnose and treat patients is investing for global growth this year.

VetCT is pushing ahead with plans to grow its international client base by investing a new branch in Australia and increasing its team headcount with a view to providing a 24/7 service globally by the end of the year.

Established in 2009 by specialist veterinary radiologists, VetCT provides expert reports on X-rays, CT scans and MRI scans to help vets diagnose and treat their animal patients anywhere in the world.

With turnaround reporting times of less than four hours, VetCT manage a team of over 30 veterinary diagnostic imaging specialists and are continually recruiting new consultants to meet rising client demand.

In the last year, the business achieved a 35 per cent increase in turnover, and with the opening of an Australian branch ensuring a round the clock service across time zones, the couple are now eyeing growth in Scandinavia, America and Australasia.

VetCT has been with HSBC since its inception and the bank is supporting them with their aspirations by providing international banking advice and account facilities.

With the HSBC’s recent ‘Business of Growth’ report highlighting that 2014 marks a turning point for ambitious businesses, the couple agree that the favourable economic conditions provide the perfect driver for the international growth of their company.

Victoria Johnson, director, VetCT said:

“Our decision to substantially invest in all areas of our business this year is based on the opportunities we know exist internationally. As a business we’ve achieved sustained growth over the past five years, but now is the time to push ahead with improved economic conditions and strong of demand for our service.

“Veterinary medicine has become highly specialised and is continually evolving. Our company is at the cutting edge of new research and development, using the latest technology to provide vets with radiology expertise and specialised reports in a guaranteed turnaround time.

“We’re the only company in the UK that provides that level of expertise for CT and MRI scans and through our service, we are helping our clients achieve better clinical outcomes and deliver better service to pet owners.”

VetCT has been identified as one of HSBC’s fastest growing SMEs in the East of England, and the directors are part of a network of likeminded business leaders who get together to share ideas on how to reach their business potential.

Through its ‘Ambitious Businesses’ programme, HSBC recently announced £300m in new lending for SMEs in the East of England seeking help achieve their growth plans.

Ian Tandy, Regional Commercial Director, HSBC South and East, said:

“VetCT is a dynamic, ambitious business with a clear vision and the investment plans in place to achieve sustained growth.

“We’re seeing a rise in the number of lending requests on a week-by-week basis from similar fast growing businesses in the East of England who are looking to invest and take advantage of the improved trading conditions.

“All the leading economic indicators are positive and we firmly believe now is the time for businesses to invest, as demonstrated by our recent commitment of £300m of new lending in the region. I’d encourage any businesses looking to the future to access advice and support to drive their growth plans.”