Medical products firm is in great shape for growth
Fast-growing medical products company CME Medical has drawn up an ambitious strategy for further dynamic expansion after taking part in the Lancashire Forum programme from Boost Business Lancashire.Blackpool-based CME Medical has seen turnover increase by more than 200% from £6.5m in 2009 to £15m in 2012.
The company, which employs 75 people, provides specialist portable infusion products that are used for pain management, palliative care, oncology, nutrition and other clinical applications.Executive chairman Stephen Thorpe founded the business in 2001 and in 2007 jointly acquired it from its US parent. In partnership with Israeli company Caesarea Medical Electronics, CME Medical has expanded and refined its product range to become a dominant player in the niche ambulatory infusion products market.
Stephen decided to take advantage of the Lancashire Forum programme, delivered by Lancaster University Management School (LUMS), to further develop his skills by interacting with other SME leaders.Stephen said: “The Lancashire Forum sessions have helped to shape our strategy for 2014 and beyond and we fully expect to see tangible benefits to business performance in the near future.”
The forum is a peer network and business masterclass programme that delivers knowledge and support through LUMS’ extensive links with the broader business community. The programme enables senior SME managers to develop their skills and knowledge by sharing experiences in an environment of trust and mutual support.SME executives on the programme receive masterclasses delivered by the university’s academics and inspiring business speakers including Will Butler-Adams from Brompton Bicycles, Jo Fairley at Green & Blacks, and Kirsty Henshaw, founder of Worthenshaws which has rebranded as Kirsty’s.
Stephen commented: “Lancaster University is renowned for having one of the top management schools in the country and this shines through in the structure and content of the Lancashire Forum programme. It enables you to focus in an objective and informed environment on how you can take your business forward.”Stephen added: “There is a work book to assess where you are at in relation to your personal and professional goals, while the masterclasses add an inspirational dimension that complements a highly effective business support and development package.” Boost Business Lancashire is being delivered through a partnership between Lancashire County Council, Community & Business Partners, Lancaster University, Regenerate Pennine Lancashire, University of Central Lancashire (UCLan) and Winning Pitch. £3.6m of funding has been provided by the European Regional Development Fund (ERDF).