UK Life Sciences and Medtech Payment Practices: A Mixed Bag in 2022

The Numbers

• Companies analysed: 109
• Average PaymentCheck Score: 59.8/100
• UK average: 50.0/100
• Life Sciences and Medtech sector is 9.8 points above the UK average.
• North West average: 70.7/100 (11 companies)
• Wales average: 68.0/100 (5 companies)
• South East average: 61.8/100 (34 companies)
• Scotland average: 61.7/100 (4 companies)
• Northern Ireland average: 58.4/100 (3 companies)

What Stands Out

While Life Sciences and Medtech companies, on average, paid their suppliers better than the general UK business population in 2022, the spread of payment performance is alarming. The range between the best and worst performers is massive, which highlights significant inconsistency in payment practices across the sector.

Best Payers

1. MEDICINES DISCOVERY CATAPULT SERVICES LIMITED - 99.2/100
2. MEDICINES DISCOVERY CATAPULT LIMITED - 98.8/100
3. MEDICINES DISCOVERY CATAPULT SERVICES COMMERCIAL LIMITED - 98/100
4. INTERSURGICAL LIMITED - 95.8/100
5. ASTEX THERAPEUTICS LIMITED - 95.17/100

Worst Payers

1. EUROAPI UK LIMITED - 18.78/100
2. ACCORD HEALTHCARE LIMITED - 22.7/100
3. MEDIQ HEALTHCARE UK LIMITED - 27.63/100
4. DRAEGER MEDICAL UK LIMITED - 30.15/100
5. ABBOTT LABORATORIES LIMITED - 31.6/100

Regional Patterns

The North West stands out as the best region for payment performance, boasting an average PaymentCheck Score of 70.7 across 11 companies. Wales, with a smaller sample size of 5 companies, is also a strong performer at 68.0. However, Northern Ireland lags with an average of 58.4, suggesting potentially different financial pressures or payment cultures in the region.

Life sciences and medical technology suppliers need to check who they're dealing with, especially given the difference between the top payer (99.2) and the bottom payer (18.78) is a staggering 80.42 points. Use this late payment calculator to see what late payments are costing you.