Industry experts in partnership to stimulate UK medical technology sector

2 July 2009

The team behind the UK Access to Finance for Healthcare Technology Companies programme has today announced an alliance with two of the leading organisations in the regional medical technology sector.

The Access to Finance programme, launched by the English regional development agency, Yorkshire Forward in February, has developed new working relationships with Medipex, the regional NHS Innovation Hub and Medilink (Yorkshire and Humber), the membership organisation which facilitates growth in the regional medical industry.

This new alliance will enable regional businesses in the healthcare technology sector to tap into investment expertise and advice from the Access to Finance programme, alongside the innovation and NHS insight of Medipex Ltd and the extensive network of Medilink.

Phil Whaley of Grant Thornton, manager of the Access to Finance programme, said: “There is a real synergy between our programme and the work of these two organisations. Both are helping to stimulate the growth of the sector in the region by supporting medical innovation and the Access to Finance programme is helping to attract investment for this innovation.”

Medipex is helping companies to develop R&D collaborations with the NHS, by identifying staff who can evaluate concepts or products and clinicians who can carry out clinical trials.

Richard Clark, chief executive of Medipex Ltd, welcomes the alliance. He said: “Working with the Access to Finance programme will strengthen our proposition to companies in the region. As a team we will be able to offer all the advice and expertise needed for early stage development of a product.

“Over the last three years Medipex has helped establish five new healthcare businesses in the region and we value the relationship with the Access to Finance programme in order to assist these companies to get early stage investment and to grow.”

The Access to Finance for Healthcare Technology Companies programme is a sponsor of this year’s Medilink Healthcare Business Awards in July. The awards recognise outstanding business achievement in areas such as exporting, innovation and growth.

Giles Proffitt, product innovation & operations manager said: “To enhance the viability of the extensive base of great ideas and innovative businesses within the region it is essential that our companies receive the right investment support. Its great to be working with a programme focused on strengthening access to new finance opportunities.”

Kevin Downes of consortium member BITECIC Ltd said: “There are several organisations in the region providing valuable support to developing health technology companies. We are keen to work more closely with these organisations to identify appropriate companies for the programme and to continue their preparation for investment.”

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