Thursday, March 1, 2018

News: Financial backing for Rotherham health firm

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A group of entrepreneurs has secured funding from Sheffield city region to help develop their innovative business idea that is targeting hospitals and their hard-pressed budgets.

Health Imaging Solutions Limited (HISL) was founded in 2016 by Mike Cox, Wayne Goring and Michael Bradfield to change the way institutions manage their diagnostic imaging equipment. Based at Dinnington in Rotherham, the firm provides high quality, vendor-neutral and cost effective services.

With backgrounds in engineering, business engagement, and the healthcare market, the trio spotted a major opportunity in servicing and repairing MRI and CT scanners at a much lower price than the manufacturers currently charge.

There has been a substantial rise in the demand for scanning, but health budgets haven't risen in line. More and more institutions were complaining that their OEM contracts just didn't provide value for money.

HISL is also storing newly-purchased scanners in specially designed areas of their premises on the former Dinnington colliery site. The "cryo bays" provide safe, cool storage for scanners until they can be installed, cutting down on the problem of finding storage space in busy hospitals and clinics for these expensive and bulky pieces of equipment.

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The £40,000 grant made by the Sheffield city region through the Business Investment Fund has been used for specialist racking at the HISL premises and was successfully applied for through a series of advice and guidance meetings with advisor Henry Murch.

The funding is part of the £320m Sheffield city region programme of investment. This includes a contribution from the Government's Local Growth Fund which is part of the Government's continued investment in the Northern Powerhouse.

Mike Cox, director of HISL, said: "I would like to praise Henry highly both for his help and his knowledge, which meant we could make best use of our space and get the business underway much more quickly. We've been in the building almost a year and his work and expertise have made a great difference to the success of the company."

HISL has used local builders to fit out its premises, and will be using local couriers for spare part deliveries. The business, which currently employs five people in Dinnington, plans to create its own training academy for the highly skilled medical imaging engineers apprentices it will need in the next few years, plus field engineers and sales staff.

David Grimes, head of the Growth Hub of the Sheffield city region, said: “"This is a very good example of one of the innovative businesses we have worked with and helped to bring a fantastic idea to fruition.

"Enterprise is at the heart of everything in the Sheffield City Region, and our "let's get it done" work-ethic in Sheffield City Region harnesses drive and ambition."

HISL website
SCR Growth Hub website

Images: SCR Growth Hub

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