Unimed Procurement Services, based in Leicester, received financial backing from UK Export Finance (UKEF) to facilitate the distribution of life-saving medical equipment worldwide.
In collaboration with Barclays, Unimed secured a £1.3 million financing package in 2023. The company specializes in supplying medical equipment, pharmaceuticals, and medicine to governments, NGOs, research institutions, and hospitals.
Established in 2018, Unimed has expanded its operations to Europe, Asia, and Africa since its inception.
The partnership between UKEF and Barclays enabled Unimed to obtain crucial trade finance, empowering the company to deliver over 350 ultrasound machines to Latin America and broaden its global footprint.
Recognized with the Queen’s Award for Enterprise in 2022, Unimed plays a vital role in enhancing healthcare outcomes worldwide by supplying medical supplies to international development agencies, governments, NGOs, and research institutions. To date, it has served clients in more than 58 countries, delivering pharmaceuticals, medical equipment, and laboratory supplies.
With the support of UKEF's financing guarantee, Unimed accessed the Barclays financing package and penetrated new markets. UKEF's ability to expedite access to trade finance, particularly for small businesses, has been instrumental in facilitating Unimed's growth trajectory.
This collaboration underscores the significance of UKEF's contribution to small, high-growth businesses seeking to expand their global footprint, aligning with the Government’s Help to Grow campaign. The financing has bolstered Unimed during a period of rapid expansion, as the company has established offices in Shanghai, Cape Town, Mumbai, and Dubai, while cultivating a diverse supplier and manufacturing network.
Tim Reid, CEO of UK Export Finance, highlighted the pivotal role of UKEF in supporting small and medium-sized enterprises (SMEs), emphasizing their contribution to economic growth and global healthcare initiatives.
Shameet Thakkar, Managing Director of Unimed Procurement Services, expressed gratitude for the indispensable support from UKEF and Barclays, emphasizing Unimed's commitment to advancing healthcare equity on a global scale.
Lee Ekins, Barclays Corporate Bank, commended UKEF's guarantee facility for enabling Barclays to provide funding to Unimed, acknowledging the company's impactful work across the world and anticipating the positive outcomes resulting from the collaboration.