Pharmaceutical automation specialists, Medication Management Robotics, received a £115,000 investment from NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund.
The Daresbury based trailblazing firm develops innovative software for its bespoke automated dispensing equipment it provides to the pharmaceutical sector. This delivers considerable cost savings whilst improving safety in the dispensing of prescriptions for its clients.
Medication Management Robotics has enjoyed a strong upsurge in demand during the past three years, during which time the firm has successfully delivered and installed dozens of automated dispensing systems at pharmacies, hospitals and prisons across the UK.
The investment of £115,000 from FW Capital will support ambitious expansion plans, increasing the company’s capabilities to develop 3D print components, improve the demonstration room and strengthen the wider marketing drive. Under this growth strategy, turnover is expected to increase significantly in the coming years.
Andy Beesley, Managing Director of Medication Management Robotics commented: “We’re at a really interesting point in the business where we’re ready to take the next step in our journey, exploring new customers, markets and developing new products. In order to do this we need to have the right infrastructure, people and marketing in place to ensure we can communicate our vision effectively and deliver our promise. This fantastic funding boost from FW Capital will undoubtedly help us achieve this.”
Simon Berry from FW Capital said: “We have backed a lot of businesses in the technology sector. Medication Management Solutions is the third business we’ve recently supported at the new Tech Space One annexe at Daresbury along with many others at Daresbury, Alderley Park and elsewhere in the North West.
“There has already been significant interest in this technology. An ageing population has increased demand for prescription drugs and we believe that the NHS and many pharmacies will look at how they can make dispensing drugs more efficient..
“Andy is extremely knoweledgeable about the industry having worked in it for many years and we are really pleased that we can provide funding to develop his business,
“Technology businesses are extremely important to the local economy but often struggle to access funding from traditional sources. We would like to encourage other companies in the sector to come and speak to us if they need finance to grow.”
Sue Barnard, Senior Manager at at British Business Bank, said: “We are pleased that NPIF has continued to support high-growth businesses in the North, providing vital funding to enable job creation and expansion into new markets. This investment demonstrates how this funding can make a real and measurable difference to businesses across the Northern Powerhouse region, which helps create a more prosperous regional economy.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719