Connect with us
Advertisement
Advertisement

Business

Welsh Secretary commends growth of medical device company IQ Endoscopes

Published

on

THE Secretary of State for Wales, David TC Davies, has commended IQ Endoscopes for the clear progress it is making on its ambitious growth journey and the value it is bringing to the local economy.

The Cabinet Minister turned the spotlight on the impact of private equity investment and venture capital following a fact-finding mission to the medical device manufacturer’s Chepstow HQ in South Wales.

The visit was organised by the British Private Equity and Venture Capital Association (BVCA), whose members, BGF – one of the largest and most experienced investors in the UK and Ireland – and the Development Bank of Wales, alongside a consortium of existing investors, boosted IQ Endoscopes’ expansion with a £5.2 million investment in 2022.

Mr Davies, the MP for Monmouth, commented: “IQ Endoscopes is an outstanding example of how a business can excel with the right support and investment, which has allowed the team to innovate, grow, create jobs and bring value to the community.

“IQ Endoscopes is a fantastic company on the brink of an extraordinary achievement as they push the boundaries of medical technology, but these pioneers could not have turned their bold vision into reality without the backing of BGF and Development Bank of Wales.”

Tim Rea, head of early stage investments at BGF, said: “IQ Endoscopes has been able to generate a great deal of momentum to date as the team navigates its way towards launching a truly innovative technology which will help ease the strain on our healthcare system and improve patient outcomes worldwide.

“We’re proud to support IQ Endoscopes, providing strategic guidance and funding at a crucial stage of the company’s journey.”

IQ Endoscopes has created a single-use endoscopy device which is not only cost-effective and scalable but also sustainable and has the potential to revolutionise early diagnosis of a range of cancers and gastro-intestinal conditions.

Matt Ginn, IQ Endoscopes Chief Executive Officer, said: “IQ Endoscopes has undergone rapid acceleration. Funds from our 2022 investment have enabled my team to focus on market access strategy ahead of product launch.

“We’re now pushing forward at speed to develop a device which will soon transform the way patients undergo vital treatments and procedures, as well as boosting the economy with up to 100 new jobs.

“To support this growth, we’re looking to raise further investment in the near future and as such, we’re keen to explore interest from further UK venture sources.”

Michael Moore, British Private Equity and Capital Venture Association Chief Executive, added: “We were delighted to arrange for the Welsh Secretary to visit IQ Endoscopes and demonstrate the real impact that private capital has in small and innovative businesses up and down the country.

“In 2022, 27.5bn was invested by private capital into UK businesses in sectors across the UK economy, ranging from consumer products to emerging technology.  There are over 12,000 UK companies backed by private capital which currently employ over 2.2 million people in the UK.  A majority of the businesses backed are outside London and 90% of the businesses receiving investment are small and medium-sized businesses.”

Dr Richard Thompson, Senior Investment Executive at the Development Bank of Wales, said: “We’ve worked closely with IQ Endoscopes since our initial investment in 2020 attracted them to Wales. Having secured regulatory approval in the UK and US, they’re making significant progress.

“The company is one of many that is helping to position Wales at the forefront of the health-tech sector and we’re proud to be playing a part in their global success story.  We’re looking forward to the difference their technology can make to help patients and to reduce the NHS waiting times for endoscopy services.”

 

Business

Plaid energy policy challenged by Labour after Adam Price interview

Published

on

LABOUR SAYS MINISTERS MUST EXPLAIN COST AND TIMETABLE FOR PYLON PLANS

PLAID CYMRU’S approach to energy infrastructure has come under scrutiny after Energy Minister Adam Price was challenged over plans to reduce the use of overhead pylons in Wales.

Mr Price defended the Welsh Government’s position during an appearance on BBC Radio Wales’ Sunday Supplement, arguing that communities must have greater confidence in how major grid projects are handled.

Plaid Cymru has pledged to give communities a stronger voice over energy developments and to look more closely at alternatives to overhead transmission lines, including underground cabling where possible.

The issue has become increasingly sensitive in rural parts of Wales, where proposed pylon routes linked to renewable energy schemes have raised concerns about landscape impact, tourism and local consultation.

However, Welsh Labour said the minister had failed to explain when any restriction on pylons would take effect, or who would pay the additional cost of placing cables underground.

A Welsh Labour spokesperson said: “Adam Price keeps saying how clear their manifesto was and yet he won’t say when they’re banning pylons. They won’t say who is paying for the extra cost of undergrounding cables.

“Without certainty, companies won’t invest. That’s thousands of clean, green energy jobs at risk. Plaid need more than a plan to have a plan.”

Labour said the Welsh Government must now set out how its policy would work in practice, including whether it amounts to an outright ban, what exemptions would apply, and how any extra costs would be funded.

The debate highlights the challenge facing ministers as Wales seeks to expand renewable energy generation while addressing public opposition to large-scale grid infrastructure.

 

Continue Reading

Business

New facilities at Haverfordwest Target Shooting Club agreed

Published

on

A CALL by a Pembrokeshire shooting club for more disability-friendly facilities has been given the go-ahead by county planners.

In an application to Pembrokeshire County Council, Haverfordwest Target Shooting Club, through agent Andrew Sutton Architecture, sought permission for an extension to existing target shooting club building at The Firing Range, Withybush Road, Haverfordwest to improve accessibility and internal facilities, together with associated landscaping works.

A supporting statement said: “The club’s own published history states it was founded in 1968, moved from the Drill Hall to the old wartime airfield butts at Withybush by the early 1970s, and had developed facilities over time, including the clubhouse by 1999. The established leisure/community use has existed on the site for a number of years and the proposal does not seek to intensify the core activity beyond that already authorised/established.”

It added: “The primary objective of the scheme is to improve inclusive access to the club’s facilities for disabled users and those with reduced mobility. The internal arrangement will provide adequate entrance and lobby space, clear accessible routes and appropriately designed sanitary accommodation, including an accessible wetroom/shower and separate WC.”

It also said accessible parking and surfacing designed to provide a firm, even, slip-resistant route from parking to the principal entrance.

It added: “The Equality Act 2010 places duties on service providers to make reasonable adjustments so that people with additional access needs are not placed at a substantial disadvantage.

“The proposal is therefore a positive enhancement to a community/leisure facility and supports wider policy objectives for inclusive environments.”

It went on to say: “The club operates within a highly controlled environment, and the proposed works will maintain and enhance safety and security measures.”

The application was conditionally approved by planners.

 

Continue Reading

Business

St Davids GP surgery plans lodged with national park

Published

on

PLANS to convert a former GP surgery in Pembrokeshire’s only city to a home and holiday let have been lodged with the national park.

In an application to Pembrokeshire Coast National Park, Alice and Danjal Joensen, through agent Oochitecture, seek permission for a change of use of the ground floor of the former GP surgery, Eryl Mor, 36, New Street, St Davids, merging with the existing first-floor apartment to create a larger single dwelling house, along with the creation of an attached short-term holiday let.

The GP surgery is currently vacant, following its closure in October 2024 after new partners could not be secured.

A supporting statement says, prior to being a GP surgery, the two storey element was a single dwelling house.

It adds: “The house would consist of an open plan kitchen-living space to the ground floor, along with a study, lounge and utility room. The first floor includes four double bedrooms with ensuite and main bathroom.

“The new unit of accommodation would form a holiday-let with two double bedrooms, shower room, and an open plan kitchen-living space.

“The GP surgery is currently vacant, following its closure in October 2024 after new partners could not be secured, therefore the proposed change of use will provide a viable long-term future use for the property.”

It says minimal external alterations are proposed to the property with existing entrances utilised for both the main house and holiday-let, adding: “The existing concrete ramp to the front elevation will be retained with proposed works including extending the upper level and steps to provide a connection to the front door, allowing for accessible entrance to the property.

“There will be no changes to vehicular or pedestrian access, with the site continuing to be accessed via the existing entrance from New Street. Parking will be provided for the main house and holiday-let on the existing tarmac driveway off New Street.”

The application will be considered by Park planners at a later date.

 

Continue Reading

Business12 hours ago

Plaid energy policy challenged by Labour after Adam Price interview

LABOUR SAYS MINISTERS MUST EXPLAIN COST AND TIMETABLE FOR PYLON PLANS PLAID CYMRU’S approach to energy infrastructure has come under...

Community12 hours ago

Pembroke Fair praised as well-organised community event

HORSES, STALLS AND FAMILY CROWDS RETURN TO MONKTON FAMILIES, horse owners and visitors turned out in force for Pembroke Fair...

Local Government3 days ago

Youngest mayor in century takes office in Haverfordwest

Randell Izaiah Thomas-Turner makes history as town’s first millennial mayor and first from a diverse background HAVERFORDWEST has welcomed a...

Community3 days ago

Pembroke Fair set to return after last year’s success

STALL HOLDERS INVITED AS HORSE DRIVE PLANNED PEMBROKE Fair is set to return this weekend following the success of last...

Crime3 days ago

Neyland man accused of running over traffic worker’s foot

Jury hears conflicting accounts over roadworks incident in Milford Haven A NEYLAND man has appeared before Swansea Crown Court accused...

Community3 days ago

New pilot boat Llanion dedicated at emotional Milford Haven ceremony

Vessel dedicated at Mackerel Quay as Port marks major investment in safety and resilience MILFORD HAVEN’S new state-of-the-art pilot vessel...

Local Government3 days ago

Police and GoSafe to target speeding in Newport and Dinas

RESIDENTS’ concerns over speeding and anti-social driving have prompted planned enforcement action in the Newport and Dinas areas. Dyfed-Powys Police...

Community4 days ago

Safety first as Milford Haven’s new pilot boat marks end of troubled chapter

Gary Solomon, who was aboard St Davids during the 2016 collision, helped shape new self-righting vessel Llanion from conception to...

Crime5 days ago

Cocaine courier caught with £15,000 haul in Pembroke Dock

Defendant transported high-purity drugs from Cardiff to Pembrokeshire for £210 A PEMBROKESHIRE man caught transporting more than £15,000 of high-purity...

News5 days ago

Car bursts into flames near Redberth Croft as road closed after incident

Nobody injured after vehicle fire near A477 prompts emergency response A CAR was destroyed by fire near the entrance to...

Popular This Week