A healthcare manufacturer has secured a seven-figure funding package from HSBC UK to develop an extension of its premises.
CellPath, based in Newtown, Mid-Wales, will used the funding to support its growth plans in both the UK and international markets, as well as creating a fourth warehouse at its headquarters.
The development of the new 12,000 sq ft warehouse will see the capacity of the premises increase by 15%, which the firm says will facilitate a further expansion of products and services into both the UK and international markets.
Alongside additional warehouse space, the extension of premises will see the opening of a new staff welfare facility including a canteen, modern cafeteria area, recreation room plus additional meeting room facilities for the business’s 100 plus employees.
The extension will give CellPath additional capacity for its tissue archiving service, CellNass, which provides remote archive management services for specimens and biopsy material for analysis, helping hospitals with limited resources to manage their specimen archives.
In 2016, HSBC UK funded the development of a 10,000 sq ft extension at CellPath’s current site, specifically to grow the consumables side of the business – which designs and manufactures products for use in the cellular pathology markets.
Paul Webber, Joint Managing Director, CellPath, said: " We are delighted that construction has started safely during the pandemic due to the hard-working team of local specialists employed to deliver the project. With more space, we will be able to service more clients across the UK and overseas, ultimately meaning that more patients will be receiving better and quicker care."
Jon Higginson, Corporate Relationship Director for HSBC UK, added: "We have great confidence in CellPath’s growth plans and know this will help the team successfully increase capacity of the CellNass service and supply products to both the domestic and International markets in 2021 and beyond."
