22 November 2023
LawFinance Limited (ASX: LAW) provides alternative financing for small to medium-sized personal injury law firms in Australia and the United States. Specialising in motor vehicle accident claims, Law Finance is in America’s top 5 providers of personal injury financing.
LawFinance Limited (ASX: LAW) provides alternative financing for small to medium-sized personal injury law firms in Australia and the United States.
Specialising in motor vehicle accident claims, LawFinance is in America’s top 5 providers of personal injury financing.
LawFinance has also tripled its Australian business in the past 3 years.
The company is now focusing on generating value for shareholders at minimum risk by taking advantage of significant growth opportunities.
“Our growth opportunity in America is really, really large. We can obtain that growth opportunity with the minimum risk and that should generate substantial returns for shareholders over the short to medium term,” says CEO Diane Jones.
“The fact that shareholders get exposure to not only the Australian jurisdiction, but also America, is something that should excite shareholders. They’re gaining direct exposure to US cases.”
In the next 6 to 12 months, LawFinance is working on aligning its operations with its expected short to medium term growth. To achieve this, the company has 2 key focuses: Making cost efficiencies and pursuing growth opportunities.
“A lot of businesses are affected by coronavirus and we’re not immune. Our key focus is to refinance our facilities to reduce the cost of capital, particularly in the US,” says Diane.
“We also really need to grab the growth opportunities as soon as we see them. We’re currently operating in 22 states in America. That gives us fantastic leverage to enable us to take advantage of new growth opportunities, particularly as the US recovers from the coronavirus pandemic.”
LawFinance’s ER concierge program in US hospitals is a key driver of this growth. The company has representatives in US hospitals who can take claims directly from motor vehicle accident victims as soon as they get to the ER.
LawFinance is on track to sign up 3 additional ER concierge hospitals in the next six months.
“You can see the originations growing quarter on quarter. So that’s something that shareholders will easily be able to measure.”
“We’re starting to see a sizable increase in motor vehicle usage in America again, and unfortunately, people are having accidents again. That means that in the next couple of months, we’ll see an uptick in our sales,” says Diane.