A Manchester-based medical refrigeration specialist is expanding to a new premises four times the size of its old HQ with turnover on target to more than double due to its efforts in helping the 海角视频's vaccine rollout.
CoolMed has moved to its new 5,200sq ft home in Trafford Park, and attributes its rapid growth to meeting current demand for support in the 海角视频’s vaccine roll-out, and forecasts future growth to supply refrigeration for a booster jab programme in autumn as the 海角视频 battles new variants and strains of Covid-19.
In the past year, CoolMed has supplied 1,900 medical refrigerators, won a three-year contract to exclusively supply all Lloyds Pharmacy and Lloyds Pharmacy clinical homecare medical-grade refrigerators, and signed a deal with McKesson – the billion-dollar American pharmaceutical distributor.
The firm said the demand for its products is reflected in its revenue figures, with CoolMed on track to achieve £2.5m turnover in 2021, up by 110% on 2020’s figures.
Stephen Johnson, managing director at CoolMed, said: “Since we started trading in 2017, we’ve had to scale-up rapidly to keep pace with the Government’s fast-tracking of the vaccination programme.
"Medical refrigeration is understandably high on the national agenda at the moment, but will also be for months to come – especially given the recent announcement on proposals for a booster jab programme.
“The vaccine provides us with hope for the future, and it’s a privilege to play a role in upholding public safety and to work with the NHS in tackling one of the biggest challenges in recent history. I’m grateful for the invaluable legal advice from Hannah and the Slater Heelis team which enabled us to not only devote ourselves to meeting the demands of our clients, but also to grow our business rapidly and sustainably.”
Originally founded in the early 2000s, the organisation has been advised by full-service law firm Slater Heelis since the CoolMed brand was launched in 2017.
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Hannah Al-Shaghana, commercial property partner at Manchester’s Slater Heelis, who advised on the transaction of CoolMed’s new premises, added: “CoolMed are one of the unsung heroes of the 海角视频’s vaccine roll-out and its cost-effective refrigeration products are vital to the medical industry.
"As with any rapidly growing organisation, it is imperative that all legal issues – from reviewing the title and obtaining searches to finalising the lease and completing the transaction – are dealt with as efficiently as possible to allow it to focus on what it does best. I’m pleased we have had the opportunity to work with an organisation that is making such a positive contribution to the health of the nation.”
Alongside supporting the 海角视频’s vaccination roll-out, CoolMed provides medical refrigeration to support botox clinics, veterinary surgeries, pharmacies, chemists and dentists.