A NORTH Yorkshire company which designs, manufactures and supplies dental implants across the world is set for expansion after securing a £1.5 million finance facility.

Headquartered in Harrogate, Neoss, which has subsidiaries in Australia, Germany, Italy, Sweden and the United States, agreed the provision with Yorkshire Bank in a deal which will help it develop new products and target new markets.

This year Neoss aims to start selling its products in China, Taiwan and Japan, while also launching a new product, subject to the completion of ongoing clinical trials and regulatory approval.

The company, for which international sales make up around 95 per cent of its turnover, produces a patented titanium-based dental implant system which can be used to anchor dental crowns, dentures and bridges.

Guy Leaver, chief financial officer at Neoss, said: "The new partnership with Yorkshire Bank will provide the company with the financial flexibility to continue to pursue growth and investment opportunities.

"Economic conditions in the UK and our key international markets are improving, and coupled with this new support, we are in a position to accelerate our research and development programmes and establish the Neoss brand in new geographies.

"We operate in a competitive global marketplace so we need to continue to develop and innovate to meet the demands of our growing customer base and Yorkshire Bank has taken the time to understand our requirements."

Mr Leaver also said that an increase in staff numbers from the current 110, 22 of which are based in the UK, is a prospect as the business continues to grow.

Chris Bone, director in Yorkshire Bank's Growth Finance team, said: "Neoss is well positioned for growth having invested in developing a new product and seeking regulatory approvals to allow the company to expand geographically.

"This is all in a market that is expected to grow strongly in the coming years, and so we are excited to support Neoss during this period."