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British med-tech (medical technology) companies have set their sights on the Middle Eastern marketplace to forge new business relationships and ultimately turn a profit.

Med Tech News reported that the Association of British Healthcare Industries (ABHI) revealed that half of UK med-tech businesses are anticipating demand from the Middle East in the coming five years.

These results come as 200 British companies prepare to exhibit at Arab Health, the MENA region's largest healthcare exhibition and a hotbed for new technologies entering the market.

ABHI revealed that 51 per cent of respondents to its survey anticipate a better turnover from business with the Middle East - which is home to major health tourism hubs like Dubai - while the Association's policy group has identified the region as key for growth.

"When we consider the substantial investment into public health from the government of the UAE, and wider Middle East, opportunities for UK companies providing value-based healthcare solutions are significant," said Managing director, International, at ABHI, Paul Benton.

"With so many companies planning to increase their presence in the region, Arab Health is the ideal platform to drive this growth and the UK Pavilion promises to be a hub of activity."

The ABHI is exploring emerging markets to ensure the British med-tech industry stays healthy after the UK leaves the EU.

The organisation's Healthy Outside The EU Strategy was published in April 2017 and encourages the industry to branch out and to be positive and constructive to its approach to business post-Brexit.

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Electron beam services are essential for high precision engineering, and the UK sector just got a boost.

Glasgow-based Walker Precision Engineering has just received a £4million boost in the form of an investment from the Business Growth Fund.

This money will be used to fund an expansion in its machine capacity by developing a new purpose build facility in Basildon, and doubling the capacity at its Poland premises.

The business, which has premises in Glasgow, Basildon and Poland, says that it needs to expand in order to fulfil the recent rise in demand that has been brought about by the growing space market in Scotland. We reported on this last month.

Managing director Mark Walker, who founded the business in 1979 with his brother said: "Now is the right time to bring on board a minority investor.

"BGF's funding will help us pursue new opportunities in the market faster than we would otherwise have been able to do, without losing control of the business."

The company has already been involved in the Galileo global navigation satellite system and is forging close links with the International Space Agency.

BGF is backed by Barclays, HSBC, RBS and Standard Chartered which provide growth capital to small and mid-sized businesses for a minority stake.

Scotland now builds more satellites than any other country, and employs over 7,000 people in the space sector alone.

The space sector is set to grow significantly in coming years, and many are excited about the emerging role Scotland will play in that. Hopefully this latest grant will go some way to cementing its place on the global map.