Healthcare firm takes a healthy dose of £500,000

AN ambitious healthcare firm has been able to expand its product range after a major equity-linked package from Finance Yorkshire.

The funding body has supported Wakefield-based Boston Healthcare over the years, initially with a £1.25m package to help it acquire other brands.

Now Finance Yorkshire has invested £500,000 in the future of the firm which will also help back Boston with a major TV advertising campaign.

Boston supplies Boots, Superdrug and Lloyds, as well as independents.

This latest investment has enabled the business to add a children’s SPF50 Lipscreen and an Evening Aftersun with SPF20 to its Uvistat range. It has also introduced Dalivit D3 to combat vitamin D3 deficiency in children.

Managing director of Boston Colin Darroch said: “We spent some time establishing the brands back in the marketplace and now we are concentrating on new product development. It is easier to hang new products on existing brands because of the brand association with consumers.”

He is partnered in the business by executive chairman Steve Stocks and together they have more than 60 years industry experience. Mr Stocks added: “Over the coming two to three years we intend to gradually ramp up the promotional activity to drive sales of the portfolio and we will continue to innovate with new line extensions in areas of unmet need.”

Ian Brown, Finance Yorkshire portfolio manager, said: “From the time of the acquisition of the brands, Boston Healthcare has surely and steadily moved from rebuilding awareness and trust of the brands among consumers to a strong position in the marketplace.

“The business is now well placed to develop and add more new products this year which include a probiotic for babies as part of the Dalivit franchise.”

Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.

The project is supported financially by the European Union.