The London Doctors Clinic (LDC), a private chain of GP surgeries which targets busy commuters, business travellers and tourists, has received £2m to double its presence in the capital.
The investment, from Richmond-based private equity firm Oakfield Capital, will help LDC to increase its number of clinics from nine to around 18.
After launching in 2015, the business has increased the number of patients it treats to more than 3,000 patients per month.
“As demands on the NHS continue to grow, we see a huge opportunity to offer convenient access to affordable GPs for UK residents and tourists who want an appointment at a time and place that suits them,” said Seth Rankin, LDC's founder.
“The growing demand for our service shows a gradual shift in perception of the private healthcare sector. It’s not just for wealthy individuals and celebrities. It’s an affordable solution for many, particularly those who prioritise convenience.”
The existing clinics currently span Soho, Liverpool Street, London Bridge, Kings Cross, Victoria, Waterloo, Fleet Street, Paddington and Canary Wharf.
A 15-minute appointment with LDC costs £55, making it cheaper than many competitors but more expensive than most internet-based medical consultations.
With the establishment of the new surgeries, Rankin aims to “increase revenue significantly” and drive patient numbers up to 200,000 per year over the next three years.
The investment came from Oakfield's second Special Situations Fund, which targets businesses where there is an inherent value in changing their direction or – as in LDC's case – where they could benefit from disrupting a market.
It is the third time Oakfield has injected capital into LDC, after putting in £1m in 2015 and £850,000 in a crowdfunded round last year.