Nutricare raise $4.0m to support growth strategy
Henslow is pleased to announce that we have successfully assisted Nutricare in raising $4.0m. Funds raised will be used to Nutricare pursue its growth strategy, strengthen the balance sheet, and support general working capital.
Nutricare is an eco-solution based FMCG industry pioneer. They are ranked 2nd by Mintel for the second quarter running as one of the fastest growing brands in the medical devices sector in the US and distributed in over 41 countries and 35,000 plus retailers across the world. The company is set to make a transformational step to increase its market distribution to over 50 countries and by strengthening its catalogue by further expansion of its existing portfolio and development of opportunities in complementary personal care categories.
Nutricare has a unique set of assets and capabilities that can be leveraged in new, larger markets. The company’s PATCH collection is a series of toxic free Natural and Eco Strop bandages that are made from soft, FSC, OEKO-TEX standard 100 certified bamboo fibre and gauze with hypoallergenic pressure sensitive adhesive. Additionally, they also have an extended range in pre-production to include larger format for different wound treatments. In relation to financials, revenue has been driven by the company’s widespread acquisition of retailers on a global scale. Nutricare aims to service this ever-expanding network with its currently available products and new products that are to be released soon.
Henslow acted as Lead Manager and Underwriter to the raise and continues to support Nutricare as they strive to remain a global leader in the FMCG medical device category.