Irish firm Lynch Medical Supplies prepares for EU growth
Lynch Medical Supplies is on a strong growth curve, as it prepares to acquire new businesses and take on new EU markets
Irish medical-tech firm Lynch Medical Supplies (LMS), which manufactures sports injury products for the healthcare and medical industries, is to invest heavily in a new central headquarters facility in Swords, Co Dublin.
The company is preparing to fast track its growth over the coming 12-18 months, with strategic acquisitions also on the horizon.
The move to the 15,000 sq-foot facility coincides with a rebranding programme undertaken by LMS in recent months.
LMS, which currently employs 16 people, has seen continuous annual growth of about 25pc year on year, culminating in it becoming one of the biggest single players on the Irish healthcare market. LMS currently operates in Ireland, the UK, Continental Europe, Caribbean, US and South Africa.
LMS provides a range of products for the healthcare and medical industries, including both surgical and orthopaedic products and medical consumables. During 2010, LMS extended its service offering into pharmacies in Ireland. In a short time, it has already taken on 500 pharmacy clients.
LMS was founded in 2003 by its now-chairman John Lynch in order to supply specialist sports injury products and soft tissue implants for the public and private healthcare sectors.
Back then, Lynch Medical operated from a 400 sq-foot retail unit in Malahide in north county Dublin. LMS swiftly outgrew this unit and relocated to larger premises in Baldoyle Industrial Estate, and started to expand its offerings to the healthcare business.
In 2007, Lynch Medical moved to acquire Midland Bandages, a specialist manufacturer and exporter of bandages, and to supply the HSE, private sector and veterinary suppliers in Ireland.
'We compete on an international scale' - John Lynch, LMS
"Today's announcement is all part of the natural evolution of our business. We compete on an international scale against global multinational players and the investment in the new HQ facility will provide us with the scale necessary to grow and develop our business into the future," explained Lynch this morning.
He said that in the next 12–18 months, LMS will concentrate on expanding its product offering into the existing orthopaedic markets and has high hopes for its move into specialist joint reconstruction.
"We are also actively pursuing a small number of strategic acquisitions which will enhance our portfolio and strengthen our hand in future European market expansion. As part of this growth, we also aim to recruit an additional five staff by the end of 2011."
LMS provides next-day delivery either from its offices in Swords or shipped overnight from its facility in Germany.
In 2010, Midland Bandages rebranded as MBL Healthcare. The investment in the new HQ facility and the rebranding programme is the culmination of the integration of MBL into LMS, added Lynch.