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Brecon’s Only Independent Optician Secures New Ownership and Investment

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Brecon’s only independent optician has secured new ownership, following six-figure bank funding.

Qualified optometrist, Kiranjeet Matharu has used a £164,000 commercial loan from NatWest to purchase First Optic on Bethel Square from its existing owners. Kiranjeet will now focus on growing the business to offer specialised eye care and treatments for the local community, as well as retaining the clinic’s five staff.

Founded 23 years ago, First Optic is the only independent practice within a 20-mile radius of Brecon, serving the local community for a range of optometry related services. It also offers dispensary optician services including sight tests and glasses prescriptions as well as diagnosing sight-threatening conditions, including glaucoma and macular degeneration.

Kiranjeet took over ownership of the business in February, after 17 years’ experience of diagnosing and treating eye traumas and other optical issues.

Since launching, Kiranjeet has expanded the services offered at First Optic with the launch of a prescription service for anterior eye diseases, making her the only optometrist in Wales who can currently offer treatment without referring the patient to their local GP, providing a vital healthcare service to the local community.

Kiranjeet said:

“After years of experience treating eye trauma in hospitals, I wanted to open my own practice to offer a real benefit to the local community. First Optic Limited provides not only the services you would expect from an optometrist, but much more complex diagnoses and treatments. The funding from NatWest has enabled me to purchase the business which is well established in the community and I can now help even more patients in Brecon and beyond.”

The deal was referred to NatWest by healthcare broker Stephen Divall at Stirling Capital Reserve and Business Development Manager Steven Darbyshire and Relationship Manager Matthew Maunder at NatWest supported the deal.

Matthew Maunder, said:

“Kiranjeet has transformed the quality and range of optometry services available in the Brecon community and she has a real passion for offering the best care possible.  The funding we provided has protected the business and secured jobs, as well as allowing Kiranjeet to expand the services on offer. We look forward to supporting First Optic over the coming months and years.”