£3.3m deal for Vindon HQ - Vindon Healthcare news

Dec 13: £3.3m deal for Vindon HQ

VINDON Healthcare, which makes blood banks, plant and drug storage chambers, fridges and freezers for pharmaceutical, food and life science companies, has secured a £3.3m deal for new headquarters.

The AIM-listed business, which has a market value of £14m and employs around 40 staff, has outgrown its premises in Diggle, Oldham.

Now Vindon has signed a contract with developer Wilson Bowden for the construction of a purpose-built facility on Rochdale's Kingsway Business Park.

In a stock market statement, Vindon said the site should be ready for use by next autumn and will provide the firm with a platform for growth, enabling it to increase manufacturing capacity and provide a storage and disaster recovery service for pharmaceutical and biotech companies across Europe.

"The board is confident that it can, with this enhanced service offering, add to its burgeoning client base and capitalise upon the trend towards outsourcing," the company added.

Vindon, whose clients include AstraZeneca and GlaxoSmithKline, will fund the new headquarters with £1.4m of debt and the proceeds of a share placing last May, which raised £1.9m.

Kevin Feddy

Posted by David Cummins in Vindon Healthcare Comments: (0) Trackbacks: (0)

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