Vision Medical’s £200k cash injection

A NEW medical company is looking to get the market sewn up after securing a six-figure cash injection.

Blackburn-based Vision Medical has been set up by directors Darren Neill, Craig Stuart, Janet Welch and Jonathan Drew, who have considerable experience in the medical equipment sector, with the help of a £200,000 government-backed Enterprise Finance Guarantee (EFG) loan from NatWest.

Vision Medical will provide specialist products such as endoscopes that are used in orthopaedics, gynaecology, general surgery and ear, nose and throat treatments. 

The products, which are sourced from  medical equipment manufacturers around the world, are distributed to hospital trusts, clinical laboratories, general practitioners and research organisations.

The Blackburn office of NatWest provided the funding.  The scheme aims to ensure that smaller businesses have immediate access to working capital during the difficult economic climate. Under the terms of the scheme the government will guarantee 75% of any loans made, with the bank covering the remaining 25%.

Darren Neill, managing director of Vision Medical, said: “We are delighted to launch Vision Medical and believe there is a demand in the healthcare market for a niche business like this.  We have an experienced team in place that has a considerable knowledge of the market and we are confident we can provide clients with an excellent service to meet their clinical requirements.”  

Derek Pratt, associate director at NatWest added: “Darren and his fellow directors presented an impressive business plan for Vision Medical and secured funding as a result of this.  We wish them well with this venture and look forward to watching the company’s progress.”