Expansion on the cards for Harvard Healthcare
SKIPTON-based Harvard Healthcare is positioning itself to take advantage of the market for medical devices and diagnostics in the field of orthopaedics after securing a £30,000 loan from Partnership Investment Finance (PIF).
The company will use the money to help it achieve its growth strategy by expanding its product range, enter new markets and it to respond more quickly to demand from surgical teams and Primary Care Trusts (PCTs).
Part of the funding will help Harvard Healthcare market its ActiveWrap product – a range of thermal compression wraps designed to prevent or treat sports related soft tissue injuries – across Europe.
Vaughan Rimmer, managing director at Harvard Healthcare, said: “We need to respond to the demand for our products and ensure we have the stock to ship when our customers need it as this ultimately affects the quality of life for patients.
“This money gives us the financial flexibility to invest in our materials, designs and stock levels so we can compete on time with the major corporations.”
Harvard Healthcare employs 10 staff including highly skilled sales and clinical procedure experts.
Jonathan Craig, PIF lending manager, said: “The business was started just 18 months ago and since then Harvard Healthcare has proved its ability to deliver high-quality products in this specialised sector.
“The management team is well organised and brings strong experience from their previous roles within the healthcare sector.”
PIF is an investment fund aimed at supporting growing businesses in Yorkshire. It aims to encourage enterprise and economic regeneration by providing equity investments and loans to eligible businesses in the region’s Objective 2 areas and has £7m worth of funds to invest.
