Hull-based medical supplies distributor Emkado, one of the fastest-growing companies in the UK health market, is to acquire York Medical Technologies (“YMT”).
The deal has been supported by £400,000 in funding from Santander Corporate & Commercial.
EMKADO was set up in 2012 by founders Karl Douglas and Emre Kafadar, who left positions with Smith & Nephew to form their own company.
Over the past two years, the business has grown rapidly in the UK health sector, winning a number of contracts with various NHS trusts.
In May this year, the firm also secured the contract to supply five million needles to the NHS supply chain for the UK Government’s pandemic influenza preparedness programme.
Founded in 2004, YMT has grown to become an established supplier of quality surgical instruments and consumables to both the NHS and the private sector.
The acquisition of YMT by EMKADO will allow both businesses to achieve economies of scale through the combination of different contacts.
The combined firm will employ 10 people and plans to hire additional full-time and part-time sales reps, as well as an intern role being made permanent, over the coming months.
The growth strategy of the combined firm is to expand sales and push complementary products such as the EMKADO laser and the YMT instruments, which are applicable in the same surgical fields.
The business also intends to invest in marketing the revolutionary Platelet Rich Plasma (PRP) treatment, which significantly enhances the body’s own natural healing and regeneration and is widely used in aesthetic and sports injury treatment and has great potential in certain surgical procedures and chronic wound treatment.
Karl Douglas and Emre Kafadar, founders, EMKADO, said: “We are confident that the acquisition of YMT will allow us to achieve economies of scale and leverage our combined resources, helping us to grow the business quicker and more effectively.
“Santander’s support throughout the process has been invaluable, with the team taking the time to understand our industry and business model.”
Paul Atkinson, relationship director, Santander Corporate & Commercial, said: “Since establishing EMKADO in 2012, Karl and Emre have rapidly grown the business and created a strong customer base.
“Santander is committed to helping businesses prosper and we are delighted to support the next stage of EMKADO’s success story with this important acquisition.”