Buyer sought to save medical device company

A buyer is urgently being sought for an in-demand medical device firm in liquidation, after those handling the process said that robust new processes can easily allow it to turn profit.

PWB Health, which created the Breastlight device - which allows women to thoroughly check for breast lumps - was put into administration after the volume of orders it received with a low margin, crippled its finances.

Matt Henderson, a partner at liquidators, Johnston Carmichael, said: "Sales of this product have been good but the company has been under immense pressure due to worldwide demand."

He said that the company had already found a new low-cost alternative for its technology and could begin trading under new owners.

The company initially received £1.15 million in public money from the Scottish Enterprise Co-Investment Fund in 2008 to set up. Mr Henderson said the business was an appealing opportunity for someone to develop and, "allow it to reach its full potential as a global success."

A spokesperson for Scottish Enterprise said: "We have robust processes in place to ensure that SE's position is monitored and that we are treated fairly and in line with other shareholders in order for us to obtain any return that we are due following the administration/insolvency process."