PMC Pharmaceuticals secures six-figure investment
Tue, 25th November 2014

PMC Pharmaceuticals secures six-figure investment

By Matthew Ord, Digital Staff Writer

A Northumberland-based pharmaceutical wholesaler has secured a six-figure funding package to grow its business and create 25 jobs.

PMC Pharmaceuticals, assisted by UNW's corporate finance team, secured the finance from the North East Growth Plus Fund managed by FW Capital.

The company will use the cash injection as working and growth capital to allow it to begin wholesaling drugs from its warehousing facilities on South Nelson Industrial Estate.

PMC Pharmaceuticals sales director Paul McCourt said securing this level of funding has enabled the company to "commence trading with state-of-the-art software and distribution systems".

"We expect to create 25 jobs in the next couple of years and deliver a level of service to our customers that will make us their automatic first choice regional supplier," added McCourt.

UNW senior corporate finance manager Mark Simpson, who worked on the deal with executive Leon Cassidy, said: "We produced a financial model and approached various potential funders that we highlighted as relevant from our extensive network.

"Once we had received offers of funding we selected FW Capital as their team demonstrated a good knowledge of the sector, which meant they understood this business really well and they structured investment to facilitate our growths plans."

Article by
Matthew Ord

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category North East  |  source Insider Media