UK - Liverpool healthcare firm raises £750k funding

Bootle-based Zanza Healthcare manufactures and supplies a wide range of generic drugs to the pharmaceutical industry. The company's products include prescription drugs used to treat gastric ulcers and diabetes and over-the-counter medicines such as Paracetamol, Ibuprofen, Cocodamol and Asprin.

Zanza was set up in 1995 and is run by directors Richard Rawlinson, Ian Rawlinson and Jet Hennessey. In addition to supplying UK clients including Lloyds, Boots, Somerfield and Waitrose, Zanza also exports to Africa and the Middle East.

The company has raised funding of £800,000 which is made up of £450,000 from MSIF's £20m Mezzanine Fund and £350,000 through invoice discounting from Bibbys.

Managing director Richard Rawlinson said: 'We want to licence new products and are particularly looking to expand our non-prescription drug range. We already have contracts with several supermarkets for Œown-brand‚ drugs and it is this area we want to grow. The money from MSIF is crucial to develop this side of the business and also for us to penetrate new markets.'

Zanza has a turnover of £6m and it is thought this will rise to £10m over the next three years. The company employs 24 staff and will look to take on at least six more over three years.

Steve Talbot of Langtons provided corporate finance advice.

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