Genea Biomedx is an IVF technology company that develops innovative, practical products for use in IVF clinics to improve their outcomes. It is part of Genea, a pioneering provider of fertility treatment that started in Australia over 25 years ago as Sydney IVF. Genea now employs over 300 staff worldwide.
Genea Biomedx not only manufactures the growth solution required to feed embryos in the early days but has created a number of technologies to make IVF laboratory processes easier. In July 2013 Gavi (Genea Automated Vitrification Instrument) was launched. It is the world’s first automated vitrification instrument.
Gavi eliminates the variables inherent in manual vitrification and can significantly reduce the time taken in laboratories for the process to be effected. It has already gained independent acclaim, winning an SLAS (Society for Laboratory and Automation Screening) award in 2014.
Kim Giliam, Commercial Director of Genea Biomedx, needed a Northern Hemisphere base to access Europe, the US and Asia. He chose Discovery Park in Sandwich, Kent as it provides the high standard of laboratory facilities needed and is geographically well positioned to reach new target markets. He explained “It is pretty unique that we can relocate ourselves from the other side of the world and hit the ground running.”
Kim met Scott Miles (Partner at Kreston Reeves) on one of his early visits to Discovery Park in the summer of 2013. He is confident that Kreston Reeves’ tax expertise will help to maximise capital allowances on building purchases and other expenditure associated with setting up in the UK.
Kreston Reeves regularly liaise with the Genea Biomedx finance team in Australia, advising on all aspects of UK tax and VAT. They also help with the financial information required to access regional funds such as Expansion East Kent. Kim commented “Scott’s local knowledge is invaluable. The big four [accountancy] firms claim to have it and you get big four fees but they are really London based.”
Kim enjoys being able to walk into Kreston Reeves’ office for a face to face chat. He concluded “It’s important to get the right people in from the very beginning. Scott understands our business and he’s great to deal with. I have already recommended him to business contacts.”
For further information on Genea Biomedx please visit www.geneabiomedx.com/