Healthy profits see local business secure £1.45m funding package
Extran Medica, the Daventry based specialist courier for the medical industry, has purchased eight additional vehicles and moved to larger premises, after receiving a funding package worth £1.45m from Santander Business Banking.
The business has been trading for over 20 years and is owned by Mr and Mrs Odabasian who used their experience within the logistics industry and established links with the NHS to find a niche in the market for a specialist medical courier. Clients include private hospitals, the NHS and blue-chip companies like Siemens and Alliance.
The £1.45m funding package from Santander Business Banking has allowed Extran to purchase eight additional vehicles to manage the consistent requests from customers for additional capacity. The business will continue to recruit in the local community, invest in streamlining their processes to further enhance profitability and add smaller companies to their customer base now their fleet is increased.
Extran Medica has enjoyed real growth in recent years due to their niche position in the market. The business has increased employment by 17 people over the last nine months, taking the size of the team to 57 and resulting in the team outgrowing its existing premises.
Jason Odabasian, owner, Extran Medica, said: “We have a unique business delivering medication within the health industry and are enjoying a period of healthy expansion. The funding provided by Santander has allowed us to manage this expansion successfully, expanding our fleet, employing more people and moving to new premises.”
Richard West, relationship director, Santander Business Banking, said: “Extran Medica is a really interesting business which the owners have invested a great deal of hard work in. We are excited to be working with the team during this growth period and are delighted that we have been able to support with the purchase of the new office space and new vehicles. We are confident that the business will continue to go from strength to strength.”
The funding has also enabled Extran to move to new premises in Daventry, which will house the expanding team and enable continued recruitment. The new premises further provides the ability to create an in house workshop for their vehicles, saving on maintenance costs. Mr and Mrs Odabasian have started to involve their children in the business with the aim that it is handed down in the future.