New product lines and upgrades of existing technology boost sales
Artificial limb maker Touch Bionics has broken the £10 million turnover barrier for the first time.
The Livingston-based company, a 2003 NHS Scotland spinout via Scottish Health Innovations Ltd (SHIL), has reported growth of 17 per cent to top $16 million (£10 million) in sales for the first time in its history.
Touch Bionics, developer of the world's first multi-articulating bionic hand, said the revenue growth was achieved through the expansion of its product lines.
This included the launch of the i-limb ultra prosthetic hand in 2011 and the introduction of an upgraded version of its i-limb digits solution for people with missing fingers in 2012.
Earlier this week the company announced it has opened a new 4,000 sq.ft production facility in Newburgh, New York, which will serve as its primary location for the production of Livingskin – the company's range of silicone prostheses.
Ian Stevens, chief executive of Touch Bionics, said: “We are pleased with our performance in 2012 and are looking forward to continuing our growth in 2013, when we plan to announce further exciting product developments.
“The addition of new manufacturing facilities and expansion of our training capabilities mean that we are ideally positioned to reach new levels in the year ahead.”
Touch Bionics was founded by inventor David Gow and was supported by Archangel Informal Investment and Scottish Enterprise.