Pukete medical products firm snags $850,000 Govt loan for expansion

Written by Stephen Ward for Waikato Times

A Hamilton medical products firm has secured an $850,000 loan from the Government’s Regional Strategic Partnership Fund to expand its business.

The announcement concerning Pukete-based ESP Medical Ltd was part of $48 million worth of investments nationally announced by Regional Development Minister Kieran McAnulty.

The $850,000 will help increase manufacturing capability and services from ESP Medical, he said.

“Advanced manufacturing is an identified priority for regional development in the Waikato,” McAnulty said in a statement.

“The sector is the second largest contributor to Waikato’s GDP, employing around 25,000 people and continues to attract skilled workers across roles such as engineering, design and management.”

ESP Medical got going in 2020.

Its chief executive Hillary Sharp said the loan would accelerate what the company can provide people wanting help in developing products.

“It is expanding our capabilities in terms of what we can offer our customers.”

Numbers of customers, including the likes of local doctors coming up with new product ideas, had increased, with Covid-19 one factor boosting the focus on innovation, Sharp said.

“The loan will mainly go towards capital expenditure on medical products development equipment and laboratory equipment.”