Synova's 4Ways refinances

The new package, provided by Lloyds Bank Commercial Banking, is on improved terms relative to 4Ways' existing package as a result of the company's ongoing growth, according to a statement issued by the GP.

The development comes two and a half years after Synova invested in the management buyout of the business.

Under Synova's tenure, 4Ways has invested in recruitment, its clinical offering and its technology platform. According to publicly available documents, the company increased its turnover from £8.4m in the year ending in March 2015 to £11.3m the following year, with gross profit increasing from £2.7m to £3.8m in the same period.

Company
4Ways specialises in remote radiology. Through its network of UK-based consultant radiologists, the company assists both public and private healthcare providers with reporting on diagnostic images, including MRIs, CTs and x-rays.

Established in 2004, the company operates from its headquarters in Hemel Hempstead, Hertfordshire.

People
Synova Capital – Tim Ashin (partner).

Advisers
Company – Catalysts Corporate Finance (corporate finance); Osborne Clarke (legal); BDO (financial due diligence).

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• Refinancing