Flexicare secures HSBC funding to propel development

Flexicare, a leading UK manufacturer of medical devices, has secured funding from HSBC to boost manufacturing capacity and support product development in response to continued international expansion.

The company, which employs 70 people at its headquarters in Mid-Glamorgan, has secured £750,000 funding from HSBC's South East Wales Commercial team, based in Bute Street, Cardiff. Flexicare has been an HSBC Commercial customer since 1996 and the relationship is managed by Senior International Commercial Manager Jonathan Bridgeman.

The funding will enable the company to increase production capacity by approximately 15% and will also help develop innovative new products in the fields of anaesthesia, respiratory and continence care.

Flexicare is a Welsh-headquartered company that sells its products in over 85 countries, with exports accounting for 65% of its business. Key markets outside of the UK include Europe, the US and Middle East and it has offices in Jordan, the US, India and China. It is targeting new markets internationally, as well as expanding in the markets it already operates.

The company was formed over 30 years ago and has a turnover of approximately £13 million per year. It designs, develops and manufactures medical devices, specialising in the respiratory and urology fields, and expects to create new jobs in its sales and marketing function on the back of the funding.

Flexicare Finance Director Gareth Davies said: "It is important that we continue to innovate and develop to remain at the forefront of medical device technology. This additional funding will help the development of new products and also increase our production capacity on the back of increased demand, particularly from overseas markets. We are extremely excited about the forthcoming product launches we have in the pipeline and believe it will stimulate significant demand for UK designed and manufactured medical devices."

Gary Burton, HSBC Regional Commercial Director for South West and Wales, added: "The work that Flexicare does can be seen in hospitals all around the world and the company is renown for innovation within its field. HSBC is proud to support the company as it develops these important products and expands its production capacity in response to global demand."