Construction work for MediCity Scotland has finally been completed as the centre gets set to open its doors.
The facility, based at BioCity Scotland in Newhouse, North Lanarkshire, is a hub for new and existing medical technology and healthcare businesses.
A total of 11,000 sq ft of office space and incubation workspace has been constructed through the refurbishment of a vacant building at the campus.
Over the next five years the facility aims to support up to 50 new businesses and 150 jobs, develop links between the commercial and academic communities and showcase Scotland to more inward investment opportunities.
Dr Diane Harbison, managing director at BioCity Scotland, said: "I am really looking forward to the forthcoming launch of MediCity Scotland later this month.
"MediCity will follow a similar clustering model to the one already successfully in action here at BioCity, bringing together entrepreneurs, clinicians, developers, innovators and investors in a supportive environment which will facilitate and accelerate medtech opportunities.
"One of the benefits of clustering similar businesses together is that it leads to a higher survival rate – for example, businesses at BioCity Nottingham have a 91% survival rate, which is fantastic."
The centre has been created with the support of £1.012m in capital investment from City Deal, with funding from the UK Department of Business Innovation and Skills, matched with contributions from BioCity Scotland.
Councillor Jim McCabe, leader of North Lanarkshire Council, added: "One of the benefits of clustering similar businesses together is that it leads to a higher survival rate – for example, businesses at BioCity Nottingham have a 91% survival rate, which is fantastic.
"As part of our ongoing success in supporting new businesses and creating jobs locally, North Lanarkshire Council is delighted to be contributing to the revenue funding of this exciting venture with funding of £439,000.
"MediCity will act as a focal point to encourage more medical-related enterprise to North Lanarkshire, and help to build up a centre of excellence."
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement