Specialist medical equipment developer alerts administrators

Trio Healthcare, a medical equipment manufacturer based in Skipton, has posted a notice of intention to appoint administrators.

It employed an average of 55 people in 2023, according to the company’s accounts for the year ended 31 March 2023. The same accounts show the firm owed creditors a little over £800,000 and had assets worth nearly £2.8m.

The business is a specialist ostomy equipment developer and maker. Its silicone-based products are made at the firm’s Skipton site and exported around the world.

Trio Healthcare was founded in 2006. By 2020 its products were available in 22 countries and the business had also won two Queen’s Awards.

In 2021 the company secured a second round of funding from US specialist finance provider, SWK Holdings Corporation.

This funding, worth about $10m in total, was designed to support Trio Healthcare’s R&D and manufacturing as it scaled up operations.