Deals round-up

Össur grant | Glenskirlie saved | Mocean funded

Richard Lochhead, left, with Jane Martin of Scottish Enterprise and Andrew Gannon of Ossur

Össur, a manufacturer of robotic prosthetic hands, has received £400,000 from Scottish Enterprise towards a £2 million project to develop a new upper limb device at its 30,000 sq ft facilities in Livingston.

The Icelandic firm, which also makes running blades for many Paralympic athletes, bought the Touch Bionics business in the town for almost £28 million in 2016. 

Hugh Gill, Ossur’s vice-president of research and development for upper-limb prosthetics, said the grant allows for the recruitment of additional engineers.

Innovation Minister Richard Lochhead visited the company’s new site. He said: “Our National Innovation Strategy places a strong focus on technologies where we can be demonstrably world leading, with Healthtech being a key target.”

Glenskirlie assets acquired

The assets of Skirlie Castle, operating as Glenskirlie hotel and events business, have been acquired by Khunga Investments in a move that saves 32 jobs.

The building in Banknock near Bonnybridge is modelled on a 16th-century design but actually opened in 2007, becoming the first new Scottish castle in the 21st century.

Khunga Investments, founded in 2017 and headed by Ranjit Singh, is based in Glasgow and also owns the Castlecarey Hotel in Cumbernauld.

The deal, for an undisclosed sum, includes the acquisition of all assets including the Castle, restaurant, facilities and grounds. All 32 staff will transfer over, and it will remain ‘business as usual’ for all existing wedding and events bookings.

FRP Advisory was appointed as administrators of Glenskirlie as a result of unsustainable cash flow and financial problems stemming from the legacy of Covid and the well-documented problems affecting the hospitality sector, in particular soaring operational costs. It was marketed by Christie & Co.

Mocean Energy

A wave energy developer has secured £3.2 million from the European Union to develop and deploy a new device in Scottish waters.

Edinburgh-based Mocean Energy, won the funding through the EuropeWave scheme and will manufacture the 250 kilowatt device, named Blue Horizon 250, in Scotland.

The equipment will be installed at the European Marine Energy Centre in Orkney for testing with the company hoping that could take place in 2025.

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.