Case Study: Biovision Medical
Published: June 2009
Biovision Medical specialise in the distribution and storage of orthopaedic implants and products.
Based in Dinnington, Rotherham, the company has recently been selected as the key distributor for Europe and the Far East by Tissuenet - the largest independent human tissue processing company in America.
As a result of being selected as the distributor for Tissuenet, Biovision Medical needed to create additional facilities to manage the business’ inevitable growth.
The company needed to create a ‘clean-room’ in which to prepare metal implants and other medical devices in before distribution, so that they could successfully fulfill the contract with Tissuenet.
Biovision Medical recently received a £50,000 investment from South Yorkshire Investment Fund (SYIF).
The loan has allowed the company to create a clean-room and in turn, fulfill the challenges of the contract requirements.
This has subsequently secured a highly significant deal which will gain the company huge recognition across the medical equipment market for products for human application.
This rapid growth has already allowed the company to take on three new senior members of staff within just one month of the investment.
The company predicts that this rapid growth will continue, leading it to being one of the region’s most prestigious employers.
By being selected as the distributor for a global company such as Tissuenet, Biovision Medical has placed itself at the forefront of the international medical equipment sector.
The deal will create new networking opportunities for the company and will promote Biovision Medical’s products and expertise worldwide.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).