CME Holdings Ltd, the Blackpool-based leading medical device innovator, is delighted to announce its recent joint investment with SPARK Impact Ltd into Touchstone Medical, a specialist supplier of gynaecology and women’s health solutions.
CME Holdings Ltd has invested in Touchstone to help drive business growth in the rapidly expanding medical technology market, alongside SPARK Impact Ltd, managers of the North West Fund for Biomedical. This latest partnership means that CME Holdings Ltd is now a majority shareholder of Touchstone Medical Ltd, which in turn means that its subsidiary, CME Medical, one of the UK’s leaders in the specialist infusion market, has a new sister company.
Both Touchstone and CME Medical are united by a shared focus on niche markets and a philosophy derived from an insight into clinician’s needs and ultimately driven by improved patient experience and safety. CME Medical’s strong existing infrastructure will provide Touchstone with executive level expertise and administration support, as well as access to pre-established routes to market.
Touchstone, based in Blackpool, sources, supplies and supports products from leading global manufacturers such as Carl Zeiss UK, Schmitz and GIMMI® with niche areas being colposcopy and gynaecology endoscopy. Products include the award winning medi-matic© gynaecology couch, high resolution HD endoscopic imaging systems and GIMMI® instruments for gynaecology surgeons.
John Carrington, Managing Director of CME Medical said: “Improving the patient experience has long been a key driver of our business. When we were introduced to Touchstone we were struck by the synergies between our businesses, particularly the patient-focused innovative solutions the team is able to deliver that also help improve efficiency within the healthcare sector. We found SPARK Impact Ltd to be a refreshing organisation to work with and were delighted by their proactive approach. Hill Dickinson, our legal advisors were also superb throughout the process.”
“This latest development is part of a longer term strategy to invest in like-minded, ambitious businesses that are a good fit with CME Medical in terms of their outlook, people, products and markets. We’re excited to be working alongside the Touchstone Medical team to offer expert input into the success of the business via our expertise in financial, customer service and supply-chain support.”
Darren Neill, managing director of Touchstone which operates from Kincraig Business Park, said: “I am extremely pleased that we have successfully secured the funding needed to drive our business forward, which ultimately will improve the lives of patients and clinicians through our continued innovation in women’s health. We’re delighted to have been introduced to CME Medical via Leonard Curtis in Manchester and look forward to working together to bring world leading products to the UK healthcare market and provide the highest possible standards in gynaecology endoscopy.”
David Grimm, investment manager at SPARK Impact Ltd, said: “From day one, we were impressed by Touchstone’s passion and drive to deliver innovative products and services in women’s healthcare. We’re delighted to be able to invest in this technology, which complements the growing and diverse mix of biomedical companies in our portfolio.”
The medical technology sector has, in recent years, taken over from biotechnology and pharmaceuticals as the fastest growing and most ground breaking area of medical science, providing a global landscape and long-term opportunities. The sector has grown by 10 per cent per annum over the last three years, with forecasted growth approaching £300bn by 2015.
CME Medical distributes portable infusion products to over 300 NHS Trusts as well as private hospitals, homecare providers and GP surgeries, whilst also providing technical support and training as required. A network of Clinical Support Specialists (CSS) across the UK, ensures that CME Medical can provide expert advice and training to ensure that products are used safely and effectively in clinical practice.