Scottish medical device company gets £33M investment
The investment is intended to expand Vascutek’s headquarters and factory at Inchinnan, Renfrewshire to help drive growth.
Vascutek will use the investment to scale up existing facilities at the site and build two new cleanrooms. The first phase of development is due to start in April 2018 and is expected to be completed by 2021.
Vascutek produces a wide portfolio of implants with a particular focus on treating patients with aortic disease. These implants have helped to save or improve the lives of over 2 million patients in over 100 countries worldwide. Over 90% of the products made at Inchinnan are exported.
Paul Holbrook, president and CEO of Vascutek, said: “This is an extremely exciting time for the company as we look to secure further growth in the surgical grafts market. The investment from Terumo is testament to the quality, efficiency and excellent customer service delivered consistently by our team at Inchinnan and will allow us to further expand our business globally. The decision to invest in our manufacturing facilities sends a strong signal about the health of our company and our prospects for the future. It is an important milestone in our mission to create innovative products to the highest standard that benefit the lives of patients and their families across the world.”