Year of investments for healthcare programme

17/03/2010

A Yorkshire Forward programme aimed at stimulating investment in healthcare is celebrating its first anniversary with the launch of a new name.

The Access to Finance for Healthcare Technologies programme has now become ‘Investing in Health’ and comes under the Yorkshire Forward Understanding Finance for Business banner.

The programme, which is managed by Grant Thornton, has completed a successful year of supporting regional healthcare technology companies seeking finance for growth and development. Twelve months in, the team behind the programme has already supported more than 61 companies collectively looking for more than £56m million.

Lisa Ward, manager at Grant Thornton, says: “It was felt that it was a good time to rebrand the programme, following an incredibly successful first year. The new name sums up everything the programme is aimed at – investment in the healthcare sector of our region.”

The programme consortium, made up of Grant Thornton, Quotec and BITECIC, helps companies through the minefield of equity funding and other investment streams. Recent research carried out by Grant Thornton ranked the programme’s high calibre of speakers and managers as key to its success. Others rated the opportunities to meet and network with potential investors as the most effective aspect of the programme.

Lisa continues: “Yorkshire companies of all sizes have benefited from the advice, knowledge and contacts the Investing in Health programme provides. Within the last year we have supported a whole host of companies looking for finance, from spin outs and early stage businesses, to those that have been established for a number of years and are now looking for investment for further growth.”

As well as helping companies to secure investment, the programme’s experts also advise on ways of raising other types of finance such as bank debt, asset based lending and sales finance. It recently helped York-based Paraytec Ltd make a £38,000 claim for an R&D tax credit.

Nearly 100 entrepreneurs, investors and business advisers are now registered on the Investing in Health website www.investinginhealth.co.uk which acts as the hub for all programme information and activities.

Lisa and the team at Grant Thornton are interested in speaking to any healthcare technology companies in the region which are looking to expand and develop their products and services. For further information contact Lisa Ward on 0113 2001505 or visit www.investinginhealth.co.uk

All media enquiries to Lizzie Wilson or Harriet Cartwright at Cicada Communications on 01423 567111 / 07944 972393 or lizzie@cicada-comms.com

Investing in Health

Investing in Health is part of Yorkshire Forward’s Understanding Finance for Business programmes and provides the knowledge, tools and resources needed to access equity funding from national and international investors. Managed by a consortium of finance and healthcare experts, it also gives advice to companies looking at ways of raising other types of finance such as bank debt, asset based lending and sales finance.

Yorkshire Forward

Yorkshire Forward is the Regional Development Agency behind the economic regeneration of Yorkshire and Humber. It aims to make a positive difference by investing in jobs, improving towns and cities, and in supporting businesses throughout the region. Over the past year, Yorkshire Forward has created and safeguarded more than 27,000 new jobs; helped create and attract more than 1,100 new businesses, provided nearly 66,000 learning opportunities and attracted more than £333 million private sector finance - achieving or exceeding all of the targets it was set. Yorkshire Forward’s investment across the region is maximised by attracting European Regional Development Funding from the Objective One and Two programmes.

Grant Thornton UK LLP

Grant Thornton is a leading business and financial adviser, delivering unparalleled service standards and tailor-made solutions to over 40,000 corporate and individual clients. It is the UK member of Grant Thornton International, one of the world’s leading international organisations of independently owned and managed accounting and consulting firms.

BITECIC

BITECIC provides specialist R&D services to support organisations aiming to take new concepts through to market in all areas of healthcare and medical device technology.  Drawing on expertise from a world-class team of business, clinical and research personnel, BITECIC applies its regional knowledge to developing and managing the local, national and international collaborations that will add value to its customers.

Quotec

Quotec is a technology and innovation strategy consultancy that utilises a wide network of technology and market experts to assist industry and the public sector in technology commercialisation and knowledge transfer. In the area of health technology Quotec develops and manages industrial innovation programmes for the UK Department of Health. These include the Small Business Research Initiative and other elements of the Invention for Innovation (i4i) programme. Quotec also works directly with health companies large and small on technology development and exploitation. It provides help and support for many small technology based companies seeking investment finance.