22.4% owned by Summit Group
Summit originally invested £100,000 for a 25% shareholding in May 2000. It also provided a £100,000 loan, which was drawn and then fully repaid in October 2004. It has since provided a further £230,000 in equity finance and now has a shareholding of 26.7%. Set up by three industry experts, the business produces specialist products in the woundcare and related industries for large pharmaceutical and FMCG companies.
MedTrade’s expertise lies in obtaining the necessary CE marking and FDA approvals for its products in timescales that fit its customers’ needs for products to be on sale at particular times. In the year to 28 February 2011 it achieved overall sales and profits of £8.1 million and £1.4 million respectively, both record figures.
More importantly the year also saw the first year of profits for Medtrade"s revolutionary new haemostat product, Celox; on the back of an increase in sales from £1.1 million tro £2.6 million, this part of the business produced profits of over £500,000. The Celox product is now being used across the world by a considerable number of military forces and first responder units, with great praise for its efficacy.
On the back of these advances and a much enhanced portfolio of intellectual property assets, Summit"s shareholding is now valued at over £2.1 million.