Investment will enable MTP Innovations to enhance and promote its product range within the NHS
A company that manufactures infection control products for the healthcare sector is set to expand after securing a £400,000 investment from Finance Yorkshire’s Equity Linked Fund.
Huddersfield-based MTP Innovations will use the money to enhance and promote its product range within the NHS, as well as targeting new and broader markets.
The companies range of cost-effective, safe and patentable infection control products includes sachets and tablets used to help combat hospital-acquired infections such as Norovirus, C.Difficile and MRSA.
We knew we had a great product and a great team, but just needed the right partner to inject appropriate resource to take us to the next level
The longer-term aim is to produce a retail offering for the domestic market.
Managing director, Mike Jepson, said: “We knew we had a great product and a great team, but just needed the right partner to inject appropriate resource to take us to the next level.
“With investment secured from Finance Yorkshire, we now have the funding in place to drive the business forward and exploit the opportunities for our unique product offering.
“Engaging with the right professional advisors was, in my opinion, a key factor in this successful outcome.”
The £400,000 investment will be used by MTP Innovations to market its range in addition to investing in the research and development of new infection control products.
Katharine Braim, investment manager at Finance Yorkshire, said: “MTP Innovations’ products are unique in that they offer a one-stop-shop solution, saving the end user both time and money.
“Benefits for key customers such as the NHS include reduced infection rates, resulting in a lower number of bed days lost.”
MTP Innovations was advised by Chris Wright, corporate finance manager at Armstrong Watson; Jonathan Simms, partner; and Maxine Burton, associate at Clarion.
Wright said: “With limited resource, MTP Innovations had already generated some traction in the NHS.
Benefits for key customers such as the NHS include reduced infection rates, resulting in a lower number of bed days lost
“The company came to us looking for help to secure further investment and therefore the resource to assist the business to grow.”
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 meet their funding requirements for growth and development.
To date Finance Yorkshire has made 529 investments totalling more than £64m. The project is supported financially by the European Union.