Trio Healthcare achieved substantial growth in 2020, with sales revenues up by 18 per cent (2019: 12%). December saw the company register its record monthly sales.
It comes as the company quadrupled its sales and marketing team in late 2020 opening a new purpose-built office in Knutsford, Cheshire. The team will support an upcoming product launch hoped to transform the ostomy market, set to be released worldwide in the first quarter of 2021.
Founded in 2006 by CEO Lloyd Pearce, Trio develops and distributes a range of market-leading silicone-based ostomy accessories, designed to provide stoma patients, such as those with ulcerative colitis or Crohn’s disease, with access to products that are gentler to the skin.
In 2020, the company received funding from US financial company SWK Holdings Corporation and HSBC UK, used to expand its Skipton manufacturing site. The company has plans to double its manufacturing footprint in the town in the coming months.
To support the expansion of its specialist manufacturing facilities, Trio will be trebling its Skipton R&D and production teams by March 2021.
Lloyd Pearce, founder and CEO of Trio, said: “In a year of significant disruption for the medical device market and business more generally, this is a real achievement for the Trio team. Whilst we’re up against ostomy manufacturers with considerably larger operations, Trio’s agility, innovative product ranges and investment in growing our teams and facilities means we are quickly outpacing some of the major players in the ostomy market. I’m proud of the strides we continue to take as a company, and the growing impact we’re having as a Northern developer and manufacturer.
“Our focus remains on R&D that challenges the lethargy in the ostomy market, by formulating new materials that are more suitable and gentler for stoma patients’ skin. We’ve ended the year in a strong position, ahead of a product launch that the Trio team really believes could revolutionise how people care for their stomas.”
5th February 2021