The medical products sector is a particularly resilient industry, supplying essential products with strong demand that persists regardless of the economic cycle. The sector is continuously growing and creating innovative solutions to support both national and international healthcare markets. This growth is driven by a commitment to developing advanced medical products and technologies, and to deliver high-quality healthcare solutions and services to meet the evolving needs of patients and healthcare providers globally.
We identified over 100 companies in the UK as the ‘ones to watch’ in this sector. They form the basis of the report, and include manufacturers of products and consumables through to equipment and devices, as well as distributors of those products.
The period of time since the COVID-19 pandemic has been highly demanding for the medical devices industry.
Frank Collins OBE, Chair of Vernacare and Eyoto Group Limited, explains how companies have faced pressures and opportunities in this market. The political and economic challenges faced in the past five years caused issues including demand plummets, operational challenges and supply chain disruption for Vernacare. Frank shares insight on the three key areas companies in the industry should be focusing on and why: the regulatory landscape, labour costs, and environmental, social, and governance (ESG).
The NHS has set ambitious sustainability targets: it aims to be the world’s first net-zero national health service by 2045. This means medical devices suppliers need to adapt their products and businesses to support the target and meet the NHS requirements for suppliers. To achieve this, it is important to involve healthcare partners, distributors and end users at an early stage.
Simon Jackson, Non-Executive Director of Inpress (Sharpak Zero), Summit Medical, Calcivis and Europlaz, shares insight on the key areas companies need to consider as part of their updated approach, and how Inpress is implementing innovation.
Vernacare is a UK-based healthcare products manufacturer in infection prevention, clinical waste management and surgery solutions.
Alex Hodges, CEO of Vernacare, shares insight on its journey as a private-equity backed buy-and-build platform. Following Vernacare’s first major acquisition of the healthcare solutions division of Synergy Health in 2017 and backing from HIG in 2020, it has completed three additional successful acquisitions. Alex shares what makes post-acquisition growth successful, what Vernacare looks for in an acquisition target, and how to maintain client relationships, create a ‘One Vernacare’ culture and unified approach to regulations.
