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PHF backed by Bridges
Nottingham-based healthcare administration business PHF Services, has received £600,000 of expansion capital from Bridges Community Ventures, the investment group that specialises in backing businesses based in the UK’s most deprived areas.
Formed in 2003, PHF makes its money through the provision of ‘virtual secretarial and billing services,’ for doctors. In effect, this means it provides medical practitioners with a dedicated telephone number and practice manager, who then assumes control over a range of administrative tasks on their behalf.
Explaining PHF’s appeal, Bridges’ Antony Ross comments, ‘we are interested in investing in businesses in the healthcare sector that can succeed commercially and deliver strong social benefits.’ As a result of the transaction Ross has taken a non-executive position on PHF’s board.
The deal represents Bridges 21st investment to date and first in the East Midlands.
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