Ayrshire-based medical device developer RUA Life Sciences has bought a production facility in Prestwick from the family of its chief executive.
The firm, which makes synthetic tissue patches and heart valves for use in surgery, moved in to the property as part of a deal to take over RUA Medical Devices, the business founded by David Richmond.
The facility at Skye Road has been bought for £205,000 plus VAT from Glenavon Estates, a partnership of Richmond's wife and daughter. RUA has the option to sell the property back for £203,980 over the next two years.
Bill Brown, chairman of RUA Life Sciences, said: "I am pleased that RUA now owns all of its production facilities and we have been able to reduce our ongoing cash costs as the annual maintenance costs of servicing the loan taken out to finance the purchase is less than the commercial rental value of the property."
RUA Life Sciences was formed in March 2020 after Dundee-founded Aortech, the company behind Elast-Eon implantable fabric, took over RUA Medical Devices, with the new business headquartered in Irvine.
