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Life Sciences And Medical Technology Payment Practices Report 2021

•By PaymentCheck•Reports

UK Life Sciences & MedTech Payments: Above Average, But Big Disparities Persist

The UK's Life Sciences and Medical Technology sector demonstrated a healthier payment performance than the national average in 2021, but significant disparities between companies and regions reveal underlying issues.

The Numbers

  • Companies analysed: 122
  • Average PaymentCheck Score: 61.1/100
  • UK average PaymentCheck Score: 50.0/100
  • Life Sciences & MedTech sector is 11.1 points above the UK average
  • Top regional average: North West at 71.1/100 (12 companies)
  • Bottom regional average (of those listed): London at 63.2/100 (26 companies)

What Stands Out

While the sector comfortably exceeds the UK average, the spread of scores suggests a two-tiered system. The dominance of the Medicines Discovery Catapult organisations in the top payer list implies that publicly funded or quasi-public bodies are setting a high standard.

Best Payers

  1. MEDICINES DISCOVERY CATAPULT SERVICES COMMERCIAL LIMITED - 100/100
  2. MEDICINES DISCOVERY CATAPULT LIMITED - 98.1/100
  3. MEDICINES DISCOVERY CATAPULT SERVICES LIMITED - 96.13/100
  4. CELL THERAPY CATAPULT LIMITED - 96/100
  5. MERCURY PHARMACEUTICALS LIMITED - 95.1/100

Worst Payers

  1. ACCORD HEALTHCARE LIMITED - 22.7/100
  2. ABBOTT LABORATORIES LIMITED - 26.9/100
  3. MEDIQ HEALTHCARE UK LIMITED - 27.07/100
  4. QUANTUM PHARMACEUTICAL LIMITED - 29/100
  5. ABBOTT DIABETES CARE LIMITED - 29.1/100

Regional Patterns

The North West emerged as the strongest performing region, with an average of 71.1 across 12 companies. London, despite housing over twice the number of firms (26), lagged behind at 63.2, suggesting location isn't necessarily indicative of payment conduct. The sample sizes in Wales (5), West Midlands (4) and Northern Ireland (3) mean their averages of 67.2, 66.2 and 63.9 respectively, must be treated cautiously.

If you're experiencing payment delays, you can calculate the potential late payment interest and compensation owed to you with this late payment calculator.

Despite an overall average 11.1 points above the national PaymentCheck Score, the presence of companies scoring as low as 22.7 indicates that late payment problems stubbornly persist for some suppliers in the Life Sciences and MedTech sector.