The business, which specialises in scalp cooling technology- a treatment that can prevent hair loss during certain chemotherapy treatments-already exports to Venezuela and Brazil, with an instillation at the Albert Einstein hospital in São Paulo, and is currently expanding into Argentina.
Having identified the region as key region for growth and supported by Medilink Yorkshire and Humber and UKTI, Paxman Coolers joined a UK delegation to Brazil in 2010, showcasing its scalp cooling device at Hospitalar, the largest medical exhibition in Latin America.
Richard Paxman, CEO of Paxman Coolers, said: “We were keen to use this platform to establish links with potential business partners, enabling us to expand on our already buoyant overseas market.
“Thanks to the valuable support of the Life Sciences team at UKTI, visits to EPTCA’s offices in Rio de Janeiro and following a lengthy regulatory process to gain ANVISA approval, cancer patients in Brazil are now able to retain their hair during chemotherapy treatment.”
The UKTI initiative encourages exporting with Latin American countries such as, Colombia, Chile, Peru, Uruguay, Ecuador, the Dominican Republic and Mexico.
Oil and gas, mining, healthcare, education, airports, financial services, waste and water management and marine infrastructure such as shipyards and shipbuilding are among the sectors in Latin America offering trade opportunities to Yorkshire and the Humber businesses.
In the year between quarter 4 2014 and quarter 4 2015 the total value of exports to Latin America by Yorkshire and the Humber businesses rose by 22% from £104.8m to £127.8m.
Mark Robson, regional director for UKTI Yorkshire and the Humber, said: “Latin America is a region of some 500 million people, rich in natural resources and growing middle-income opportunities that drive greater and more diverse consumption.
“British companies such as Paxman Coolers that operate successfully in these markets have a deserved reputation for delivering high-quality goods and services via strong business partnerships with local companies to their mutual advantage.
“The level of two-way trade and investment does not however, adequately reflect the true potential for business between the UK and Latin America so we want to encourage yet more Yorkshire and the Humber businesses to exploit what is a burgeoning market offering excellent opportunities across a wide range of sectors.”