Experien Finance Pty Ltd, financier to professionals in the medical and dental fields, will be renamed Investec Experien from this month, following its acquisition by Investec Bank (Australia) Limited. Investec’s relationship with Experien began in late 2004 when Investec funded the start-up of Experien’s lending business and according to Experien head Barry Lanesman, that funding was instrumental in setting up the business.
“Our business model centered on understanding the financing needs of medical and dental professionals and, typically, these professionals found their experiences dealing with the big banks to be time-consuming and difficult,” Mr. Lanesman said.
“Investec was the ideal partner because of their long-term experience in developing products and services for the medical and professional finance markets. By establishing a relationship with Investec, we were able to form an independent financial service, offering our clients some of the best funding solutions in the market.”
After four years of solid lending growth and developing strong relationships in the medical and dental fields, Mr. Lanesman said that the next phase of growth for the business was to continue to expand the range of unique products to medical professionals. Following discussions to this effect, in October 2007, Investec acquired the balance of management’s interests and Experien became a wholly-owned subsidiary of Investec Australia.
Mr. Lanesman said this relationship enabled Experien to commence distributing Investec’s deposit products and to deepen relationships with their clients.
“Importantly for clients, Experien’s existing relationships will be unchanged and will be retaining the same dedicated relationship managers and staff who successfully built the business and will continue to partner with professionals and suppliers in the healthcare industry,” Mr. Lanseman added.
Experien staff has joined Investec in their offices in Sydney, Melbourne and Brisbane, and will continue to operate from their current offices in Perth and Adelaide.