Stairlift firm is going up in the world of sales

Oct 7 2009 by Iain Laing, The Journal

A STAIRLIFT company plans to step up its share of the worldwide market with an export drive after seeing revenues soar in the UK.

Fuelled by growing demand from an ageing population, County Durham manufacturer MediTek has seen its turnover grow from £2m to £4m in the last four years.

And now the Fishburn-based company hopes to sell more in the United States to push revenues to £8m in the next couple of years.

North America already accounts for more than a third of the market for stairlifts and the company sees huge potential across the Atlantic.

It is opening a US office as well as working on deals with independent distributors in the UK, which is still the world’s biggest market for stairlifts with 40% of the global market.

It is also hoping to team up with distributors in mainland Europe, which makes up nearly 40% of the overseas market.

Managing director Phil Rice said: “Remarkably, there are now more people in the country over 65 than under 16 and each day around 50,000 people reach retirement age.

“This demographic change is not merely restricted to the UK, it’s a global phenomenon. Naturally with an ageing population comes demand for products and services specific to our senior citizens. People are becoming much more accepting of technology aimed at improving mobility and independence and this is good news for businesses such as MediTek.

“I’m pleased to say the company is firmly on track to double its order book in the next 24 months and has already seen exports exceed 30% of sales.”