West Wales medtech firm planning to expand to US

A WEST Wales medical technology company has appointed business advisory firm Greenaway Scott as it sets its sights on success in America.

Magstim, a world leader in developing neurostimulation equipment, has instructed the firm’s Swansea office to provide legal support as it looks to expand sales overseas.

Greenaway Scott, which specialises in the life science and healthcare industries, will support the Whitlandbased Magstim by providing commercial contract advice as the company expands its operations and enters into new business partnerships to continue to develop its technology.

When the company was founded in 1990, its devices were primarily used as a research tool by neuroscientists seeking to understand how the brain’s pathways are connected.

Their work has yielded important insights into the diagnosis and treatment of conditions including multiple sclerosis, motor neurone disease and spinal injury.

Now, the company has its devices cleared by the FDA for treatment of major depressive disorder and is seeing significant demand in the US healthcare market.

Gareth Davies, Group CFO, said Greenaway Scott was “a natural choice”.

“As a global business, we needed a firm that is responsive, knowledgeable and that understands the healthcare sector,” he said.

“The team at Greenaway Scott deliver on all three.

“They take time to understand your business and work flexibly to ensure your needs are met.”

Rhian Osborne, commercial director at Greenaway Scott, said it was a privilege to be working with a company that has the potential to make such a significant impact on the lives of people globally.

She said: “Magstim are recognised as leaders in the medical technology industry and we are thrilled to be able to assist them as they develop their revolutionary TMS device.

“Their technology has the potential to change the lives of millions of people suffering with disorders including depression, multiple sclerosis and motor neurone disease.

“As such, it is our privilege to work with Magstim to help achieve its commercial aims and expand its sales across the UK and America,” added Ms Osborne.