A life sciences company, which plays a crucial role in helping diagnose and treat cancer worldwide, has unveiled plans to expand in the Middle East and South Asia.
CellPath, located in Newtown, Powys, specialises in the manufacture and supply of equipment and services used in cancer diagnostics and already exports to over 40 countries in Europe, America, Asia and Africa.
Its exports account for a third of group turnover.
But now the company wants to grow its exports by 20% over the next year with a focus on doubling its export turnover in the Middle East and South Asia over the next two years - a key target market due to the regions’ rapidly growing medical sector.
CellPath plans to expand its international distribution links and enter new territories including Saudi Arabia, Lebanon, Egypt and Pakistan. It has just returned from the MEDLAB exhibition in Dubai meeting potential new distribution partners in Pakistan.
It has also recently secured a number of key distribution agreements, including a partnership with a large US-based equipment supplier, enabling the firm to expand its offer of products and subsequently increase its sales.
In order to meet increased demand from orders overseas, the firm has invested over £2m in a new international distribution warehouse and machinery at its Welsh headquarters and added six more roles across its export and regulatory teams.
Head of exports Simon Owen, said: “We are already a market leader in the UK but our goal is to become a market leader globally with some of the key products we manufacture here in mid-Wales. We plan to grow our exports by 20% over the next year and expanding our distribution within the Middle East and South Asia will significantly help with releasing this goal.”
He added: “The Middle East is a growing life sciences market, with lots of investments currently being made to hospitals and the medical sector in the region. We already have a fantastic distributor covering the area, but there is the opportunity for us to grow this partnership further as they cover several countries across the UAE that we do not currently export to.
“There is also the potential for us to secure additional distributors in other new target markets, which is very exciting.”
The company has had an international outlook since it began in 1990, but has heavily pushed international sales over the last five years.
During this time, it has received support from the Welsh Government via Business Wales to attend a number of trade missions as well as visit new regions and conduct research into target markets.
Mr Owen said: “With the type of products that we offer, it’s important that potential customers and distributors get to see them up close in person to truly appreciate them. Attending trade shows and conducting market visits is therefore an essential part of our export strategy."
He added: “As well as allowing clients to see the quality of our products, face to face interactions are vital to establishing and maintaining relationships, as well as reinforcing our credibility as a business.
“We have been extremely lucky to have received plenty of support from the Welsh Government over the years to attend trade shows, research target markets, and identify potential new clients and suppliers that they have connected us with.”
