A Newtown company, which specialises in the manufacture and worldwide supply of cellular pathology products, consumables and services to help hospitals diagnose cancer, has added two more awards to its growing list.
CellPath Limited won both the Growth Award, sponsored by Development Bank of Wales and the International Trade Award, sponsored by Trax JH Ltd, at the annual Powys Business Awards dinner held at Dering Lines, Brecon last Friday night.
Organised by Mid Wales Manufacturing Group, the awards showcase business excellence across the county.
Dr Neil Haine, CellPath’s research and development director, said:
“We are very surprised and elated to have won both awards. There are a lot of growing companies in Powys that have shown exceptional growth this year and we think it’s incredible that we have been selected for the Growth Award.
“We take pride in representing Powys internationally as well as in the UK. Our strategy is based on export growth and to make products that people in other countries want to buy.
“We are very happy to be recognised by our peers in Powys as a successful science and technology company that is increasing the number of quality jobs for people in the area.”
The Powys Business of the Year in 2014, CellPath stands out in the cellular pathology market by being able to manufacture many of the plastic products that are used in modern cytology and histology laboratories to study diseased cells and tissue.
The company, which has 95 employees, broke through the £10m turnover barrier for the first time in its history last year. Award-winning products coupled with a sales drive saw exports rise to £2.5m in 2018, a 38% increase on 2017, while UK sales are in line with expectations.
International growth – 75% within the European Union – now accounts for around 25% of total group turnover and is forecast to break 30% by the end of 2019.
The company’s CellNass archive storage solution, which is licensed by the Human Tissue Authority, holds the majority of the UK market. A new and larger CellNass warehouse, the fourth, is scheduled to open in 2020.
CellNass has now been franchised to Belgium, Holland and Denmark, CellNass GmbH is being set up as a joint venture company in Germany and talks are underway about a franchise in the USA.
In January this year, CellPath launched CellSolv, a new service to distribute bulk chemicals, collect waste and recycle used product wherever possible, and is targeting £2 million turnover within three years.
The award judges said:
“CellPath has grown substantially in the last five years through their product innovation and strategic emphasis on improving productivity, which has allowed for job creation, expansion and, in turn, has created international and UK financial growth. Forecasts show further growth, allowing the company to maintain its position as number one supplier in the UK.
“CellPath has achieved an increased percentage of turnover in international sales by hard work and detailed planning, researching the market and ensuring that their product is superior to others. Those exports have added to an increase in gross and net margins along with more jobs created.”