Flexicare Medical, a Welsh developer and manufacturer of medical devices, has won £750,000 of debt to continue its international expansion.
Flexicare Medical, a Welsh developer and manufacturer of medical devices, has won £750,000 of debt funding to continue its international expansion.
The company, which supplies breathing systems and resuscitation equipment, secured £400,000 from HSBC and £350,000 from Finance Wales, a government-backed provider of commercial funding to businesses in the region.
MD Ghassem Poormand says the funding will be used to continue investment in Flexicare’s manufacturing facilities in China. He adds that the company’s headquarters for administration, sales and marketing purposes will remain in South Wales, where the company employs 70 people.
Rachel Miles, investment executive at Finance Wales says, ‘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.’
Established in 1988, Flexicare distributes its products throughout Europe, Asia, the Middle East and the US.