Surgical and pharmaceutical business secures funding deal
A West Bromwich business specialising in the supply of surgical instruments and wholesale pharmaceuticals and orthopaedics has secured funding to support the business in the current crisis.
FCL Health Solutions has secured the funding as part of the Coronavirus Business Interruption Loan Scheme (CBIL) introduced by the Government, to meet working capital requirements.
The business comprises three divisions: Fillerworld – which supplies medical devices online, Apex Surgical – which supplies single use surgical instruments and a general wholesale business supplying both to pharmacies and other wholesalers.
The business was founded in 2009 by entrepreneur Kulbir Sohi and today employs 17 people.
Sohi said: “As an entrepreneur whose businesses provide the UK with a variety of goods from overseas, we have seen an 60% drop in demand for all product lines across the country in line with the forced closure of non-essential businesses. With so much stock still sitting on the shelves, Barclays has been attentive and efficient in helping us.
“Due to CBILS, we are in a healthy position to meet current market conditions. The loan has also enabled us to continue importing essential goods into the UK, and as a result, we’ve been able to donate a shipment of protective masks to the NHS. It’s important that everyone pulls together now.”
Lee Clarke, relationship director at Barclays said: “This is a business that we have worked closely with since its inception. Kulbir is a true entrepreneur and when the call came in for support, I was determined to help as quickly as possible.”
