Genmed’s chairman, Robin Modak, has been chosen by LDC, supported by The Telegraph newspaper, as one of the UK’s Most Ambitious Business Leaders 2019.
Now in its second year running, the scheme aims to uncover and celebrate the entrepreneurial people behind some the UK’s fastest growing medium sized businesses. This year, the Top 50 were chosen from over 550 entrants.
LDC is the private equity arm of the Lloyds Banking Group. Since 1981, it has been investing in a diverse range of mid-market companies and, to date, has provided support to more than 600 management teams.
The Top 50 business leaders run companies, which collectively generate more than £1.5 billion and are growing 35% every year. Employing more than 10,000 people, these firms hail from every sector of the economy and are based throughout the country.
Since Genmed was founded in 2005, the business has grown exponentially with the company now one of the leading providers of vendor neutral managed services providers to the NHS. Over the past six years, Genmed’s turnover has increased 513%, with year on year revenue growth rising from £38.6 million (2017/18) to £63.2 million (2018/19).
Genmed partners with 42 Trusts around the country and has 250 managed service contracts (MSCs) some of which are substantial totalling £180 million over their contractual term. Managed services shift costs from CAPEX to OPEX and mean finance directors avoid having to find additional capital they just don’t have available.
Key customers include Countess of Chester Hospital, London Northwest University Healthcare, Norfolk & Norwich University Hospitals, Nottingham University Hospitals, South West London Elective Orthopaedic Centre and Wirral University Teaching Hospital among others.
Robin Modak says: “It’s a real honour to be chosen and very unexpected. However, this award should also be - in reality - for the tremendous people I’m lucky enough to work with at Genmed without whom our growth would not have been realised. I launched the company in 2005 after my previous employer in 2002 didn’t see the opportunity that managed services presents the NHS and two subsequent joint ventures with corporates didn’t fly.
"We now provide a unique service and much needed capital to Trusts via our managed service contracts, with hospitals authorised to reclaim the VAT back on them so they get a 20% budget benefit. We have ambitious goals for the business. Our strategy is to not only support public hospitals but target the private healthcare sector in the UK and internationally, too.”
