Flexicare, a developer and manufacturer of medical devices, has secured £750,000 from Finance Wales and HSBC as part of its expansion plans into new global markets.

Flexicare, a developer and manufacturer of medical devices, has secured £750,000 from Finance Wales and HSBC as part of its expansion plans into new global markets.

The South Wales company manufactures a range of healthcare products, such as breathing systems, oxygen therapy, resuscitation, anaesthetic face masks and continence care to international healthcare companies. Its ongoing expansion strategy has previously seen it strengthen its distribution and manufacturing facilities throughout Europe, Asia, the Middle East, and the US.

The follow-on funding will be used to increase sales, research and expand its South Wales-based development facility as well as to enter new and existing global markets. It is currently expanding its Chinese operation, which will boost UK sales and exports.

Rachel Miles, investment executive at Finance Wales, said: “This will be our third funding round into Flexicare and highlights how continued investment can lead to strong growth through increased sales into new territories.”

Jonathan Bridgeman of HSBC said: “It’s very pleasing to continue our support to the company by helping them strengthen their Welsh operation, whilst also supporting them with their continued growth strategy into overseas markets.”