Reprieve for health firm

MEDICAL research company Healthcare Enterprise Group (HCEG) has been offered a lifeline by some of its backers.

The Warrington-based was due to repay £500,000 to investors who held loan stock in the AIM-listed company by December 31.

The company said a trustee representing the loan stock holders had agreed to a later repayment date.

In a statement HCEG said: “It has been agreed that the current terms will continue until the restructuring and refinancing measures underway are completed.

“The trustee is expected to review these arrangements in late January 2009, when the financial situation of the company is expected to be clarified.”

Shares in the business were suspended on December 22 after the company said it could not file its accounts due to ongoing fund-raising talks.

HCEG is developing a range of health-related products including an alcohol-free detergent range called Ebiox and Optiscope, a  single-use endoscope, said discussions were continuing with potential investors.