Overview
This is an opportunity to invest in an innovative medical device business (“the Company”) based in North East Scotland, which specialises in the development and marketing of diabetes self-test products.

Specifically, the Company has developed a new CE approved blood glucose meter and test strip for diabetic patients that measures glucose and ketones in the same test. The new test offers significant health-economic benefits over all existing tests and has received a new reimbursement category from the UK NHS Drug Tariff. The product is protected by 20 patent applications.

The Company at present is looking for investment to fund the immediate future trading of the business and build up its sales and marketing function.

Background
The Company is run by its founders who are an experienced team from the medical devices industry with a track-record of bringing new innovations to the market. 

Key Investment attributes:

• Manufacturing to ISO 13485 quality standards 
• CE Mark 
• Granted new reimbursement category endorsed by large NHS customer 
• National distribution contract with major provider
• NHS customer base with growing presence in UK
• Positive initial market feedback from hospitals, patients and analysts
• Positive FDA pre-submission for US market entry
• Good relationship with customers
• Focus on research & development for continuous monitoring
• Team with >20 years in the blood glucose testing industry

Reason for opportunity
The Company is facing a shortfall in working capital owing to the time taken to achieve a new reimbursement category and is looking for an investment to fund this gap and invest in its sales and marketing strategy

Key Financials  

*Note: Year end 31 May

Further Information
Please Contact Nat Baldwin, nbaldwin@hilcoglobal.eu for the confidentiality agreement

Mike Orton – Director, mikeorton@mercerhole.co.uk - Tel. 020 7236 2601
Tom Pollard – Senior Manager, tompollard@mercerhole.co.uk - Tel. 020 7236 2601