- Santander UK has provided Ennogen Healthcare International, a growing UK based pharmaceuticals manufacturer with a 拢30 million loan facility to support its international expansion plans
Santander UK is helping pharmaceuticals manufacturer Ennogen to build on its high growth international strategy with a 拢30 million approved funding facility.
Established in 2011, Ennogen is a pharmaceutical and healthcare company focused on three key therapeutic areas: dermatology, respiratory and pain relief, predominantly targeting those with chronic conditions.
The loan package provided by Santander will ensure that the company鈥檚 rapid growth is adequately supported as it will allow them to continue to invest in purchasing bolt-on pharmaceutical products in complementary therapeutic areas and target future acquisitions. The 拢30 million approved funding facility also has the capability to be extended to 拢50 million, subject to future approval, with Ennogen looking at international expansion opportunities.
Ennogen鈥檚 growth to date has been funded through cashflow and shareholder injections. The loan facility provided by Santander will provide the business a flexible approach to the company鈥檚 growth strategy. 听
Based in Dartford with a regional office in Northwich, Cheshire. The company has grown both organically and via acquisitions to build an extensive portfolio of products in recent years, now employing more than fifty members of staff.
Jason Tate, Chief Financial Officer at Ennogen said: 鈥淪antander quickly understood our business and came up with an innovative and flexible approach to meet our acquisition and product development needs. With offices and specialism in key locations around the world, Santander are best placed to support our international expansion strategy.
鈥淲orking with both the team in Manchester and Liverpool, it is clear they have a strong knowledge of the pharmaceutical and healthcare industry.鈥
Sarah Laverty, Structured Finance Director at Santander UK, said: 鈥淲e are delighted to support Ennogen with this new 拢30m facility, which will help deliver their acquisition plans.听 The business has a strong management team and clearly articulated strategy, which is exactly the type of business Santander looks to support.鈥
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