A company that has pioneered an alternative approach to traditional latex and non-latex surgical gloves is using a six-figure equity investment from Finance Wales to spearhead the next phase of its growth strategy.
Having recently gained a place on the multi-million pound NHS Supply Chain Framework, Leanvation’s range of surgical gloves are now available to NHS trusts throughout the UK for the first time.
Leanvation was founded in 2013 by former healthcare executives Dr Jonathan Day, Tony Downes and Steve King and Finance Wales’ investment will now see the company open its new headquarters in Broughton.
It will also enable Leanvation to fund all-important trials with more NHS trusts, establish its infrastructure and build up the stocks it will need to fulfil customer orders.
Leanvation has taken advantage of the latest advances in materials technology to develop and manufacture its range of surgical gloves. They can be used in the majority of surgical procedures, offering a range of clinical benefits. Leanvation’s aim is to reduce the risk of potentially fatal allergic reactions while saving hospitals money. This comes at a time when reducing costs across the NHS has never been more important.
“These are exciting times for Leanvation as we now have a proven product that’s gaining traction in our key markets. We’re delighted to have become an approved supplier to the NHS as we’re a small company and it’s a big vote of confidence in both our products and our innovative approach.
“We’ll be building on this success from our new Welsh headquarters as we commence trials with more NHS trusts. Finance Wales’ investment will enable Leanvation to focus on innovation while stepping up production. We can also build up our stocks and target international growth markets,” Leanvation’s Managing Director, Jonathan Day explained.
Jerry Mobbs, Deputy Portfolio Manager at Finance Wales worked with Jonathan and the team to tailor an investment to suit the growth challenges Leanvation now faces. He said:
“Jonathan, Tony and Steve have capitalised on their expertise and experience in the healthcare industry to create a best-in-class product having secured equity funding to set up their innovative young company three years ago. Leanvation now has the potential for even greater success with Finance Wales’ backing.
“Finance Wales’ investment will now enable them to continue building on these foundations and firmly establish Leanvation as a leader in its field. Winning a place on the NHS framework and opening its new headquarters in Wales are both significant steps forward for the company in its long-term growth journey.”
Having started up in the North West of England, Leanvation will continue to build on the strong links it has established with surgeons and hospitals in the region.
With surgical gloves playing a critical role in infection control and being a key NHS spend area, Leanvation’s latex-free Surgical, UltraSensitive and Spot gloves have so far impressed customers. Supported by no fewer than four brand new products in 2016, Leanvation are able to offer potential quality improvements, which include the inspection of every single glove for defects prior to use. This ability to improve efficiency and reduce costs means that interest across the NHS in Leanvation is firmly set to continue.
MC Vanguard acted as corporate finance advisors to Leanvation and its lawyers were Gateley plc. Hill Dickinson LLP acted for Finance Wales.
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