While the UK's Life Sciences and Medical Technology sector shows an overall payment performance exceeding the national average, a closer look reveals significant disparities. The average "PaymentCheck Score" for the 113 companies analyzed is 60.8/100, which is 10.8 points above the UK average of 50.0/100. But, the performance is far from uniform.
The wide range between top and bottom payers indicates some companies are taking supplier relationships seriously, while others aren't. The geographical spread also suggests regional factors could influence payment behaviour. You can see the impact of late payments on your finances by using a late payment calculator.
The North West stands out as the best performing region, with an average PaymentCheck Score of 74.4 across 10 companies. Northern Ireland, with a smaller sample size of 3 companies, also performed well at 72.5. The South East, with the largest sample size (36 companies), scored only 63.4, closer to the average.
Life Sciences and Medical Technology suppliers should be aware of the mixed payment environment, and note that some companies like Organon Pharma score under 14/100, whereas the best, IPG Health Medical Communications, sits at 99/100.
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