A Scottish prosthetic limb firm has announced record sales throughout 2012. The success should allow the company to push ahead with expansion plans and new product ideas.
Livingstone-based Touch Bionics, a spin-off firm of the National Health Service, has posted annual sales for the year of £10 million. This represents a revenue increase of 17 per cent since 2011, and has been largely helped by the successes of its new products.
A notable launch in the year was Touch’s ‘i-limb ultra’ prosthetic hand.
Talking about the results, the firm’s CEO Ian Stevens said:
“We are pleased with our performance in 2012 and are looking forward to continuing our growth in 2013, when we plan to announce further exciting product developments.”
The timing of the sales figures announcement was also planned to coincide with the launch of a new production facility for the company in New York. Stevens continued:
“The addition of new manufacturing facilities and expansion of our training capabilities mean that we are ideally positioned to reach new levels in the year ahead.”
The New York facility will be the foremost base for its ‘livingskin’ range of products, and will support existing operations in the area.
With the success of the UK’s recent sporting events, greater numbers of amputees are seeking more functional prostheses. Though the sporting arena has been a natural draw, people have also been encouraged to seek better day-to-day products.
This greater awareness can only help businesses like Touch which, with the right strategies for commercial finance in Scotland, can look to a bright future.
Touch Bionics receives funding from Archangel Informal Investment and Scottish Enterprise.