Metro Bank enables Noumed Life Sciences to acquire
Metro Bank has provided Noumed Life Sciences with a £4.5m asset finance facility to support the acquisition of new pharmaceutical manufacturing equipment at its Maidenhead offices. In addition, Metro Bank is also proud to become the full commercial banking provider to Noumed.
This combined asset finance and banking package will enable Noumed to produce a variety of pharmaceutical products to support the UK domestic market as well as exporting worldwide. The pharmaceutical manufacturer will have a 2 billion dosage capacity and its expansion will initially be focused on the UK and Australian markets.
Rajat Mehta, managing director at Noumed Life Sciences says: “Metro Bank applied a collaborative approach to our banking and funding requirements, which in today’s complex financial market is refreshing.
Metro Bank’s friendly, approachable and ‘can do’ attitude meant the credit approval process was quick and we were able to complete the financing of our manufacturing machinery within the agreed timescales. We are very pleased with the smooth operation of our day to day banking services, and when we need assistance our named contacts are available to support us.”
Mark Stokes, managing director commercial banking at Metro Bank added: “We’re delighted to have supported Noumed Life Sciences acquire their new production equipment. By getting to know the pharmaceutical company and the people behind it, we have been able to provide them with a bespoke asset finance and banking solution to meet their needs. We look forward to strengthening our partnership with the team over the years to come.”
Noumed Life Sciences is an integrated generics pharmaceutical company based in Maidenhead, Berkshire. It has innovative manufacturing and testing facilities which are cGMP compliant and Metro Bank is pleased to be supporting its development and growth in the sector.
