A Stockport firm who has been selling health care products for over 30 years have called in the administrators.
Karomed, whose offices are based on Whitehill Industrial Estate in Reddish, specialise in the sale of pressure reducing products for patients including dynamic and static mattresses, chairs, cushions and beds. The company has seen a drip in sales brought about by tightening budgets within the National Health Service.
Sarah Bell and Steven Muncaster of administrators Duff and Phelps have been appointed and will continue to trade the business in administration in the hope of attracting a buyer.
Earlier this month, joint administrators were appointed to sister company S. Teasdale (Hospital Equipment).
Sarah Bell said:
“The company sold and rented pressure-reducing equipment for both hospital and community healthcare provision.
“This is price driven market, where margins have been squeezed as a result of tightening budgets across the NHS.
“That said we are currently working in conjunction with the funder to ensure that the business can continue to operate and honour its existing contracts with a number of NHS Trusts based across the North West.
“It is our intention to continue to trade until we have found a buyer and we fully intend to keep any potential disruption to a minimum.
“We are working closely with the trusts to deliver against that objective.”
Picture: courtesy of Karamed