Brain scanners business aims for growth
An advanced manufacturer is targeting rapid growth overseas following a seven-figure funding package from HSBC UK.
York Instruments, established in 2015, designs and manufactures medical brain scanners for the diagnosis and treatment planning of epilepsy and other brain disorders, as well as brain tumours and sporting injuries.
The business plans to utilise the funding package to scale up the production of its scanners, meeting demand from customers in North America, including elite sports organisations such as the National Football League.
John Fulford, chief operating officer of York Instruments, said: “We’re a young business so it was critical that we secured the necessary capital to help finance the build of our new scanner to meet customer orders. There are currently just 200 MEG scanners worldwide but we believe there is a potential market for over 2,000 units – so we have significant opportunity for growth.”
York Instruments, which currently has 46 employees at its head office in York, hopes the investment will enable it to boost turnover and create new jobs in the next 12 months.