Offshore wind supply chain and port infrastructure set for £15m boost
Leeds Old Medical School to become Health Tech Innovation Hub
The redevelopment of the historic Old Medical School in Leeds into a Health Tech Innovation Hub is poised to accelerate the next wave of medical advancements. The 75,000 sq ft Grade II*-listed building, dating back to 1894, will be a key part of the Leeds Innovation Village project, part of the city’s broader £2bn Innovation Arc.
Professor Phil Wood, CEO of Leeds Teaching Hospitals NHS Trust, emphasised that the project would position Leeds at the forefront of health tech research, attracting businesses, researchers, and clinicians to collaborate on breakthrough healthcare solutions. The facility will feature co-working spaces, meeting rooms, laboratories, and offices designed to foster collaboration and drive scientific progress and economic growth.
This redevelopment is expected to generate £13bn in economic impact and create around 4,000 jobs. The Innovation Hub will also play a pivotal role in shaping future healthcare facilities, including those planned for the new Leeds General Infirmary.
Scarborough Group International (SGI), the project’s developer, has committed to creating a world-class innovation ecosystem, with spaces for start-ups and established health tech players. The aim is to encourage open innovation and collaboration, moving away from the traditional isolated science park model.
Green-thinking Yorkshire furniture expert lands national accolade for sustainability
TransUnion finalises acquisition of credit platform Monevo
TransUnion has completed its acquisition of UK-based credit prequalification and distribution platform Monevo from Quint Group Ltd. The deal, first announced in January, was funded through TransUnion’s existing cash reserves. Financial terms have not been disclosed.
Monevo’s platform connects lenders, banks, and comparison websites to provide personalised credit offers to consumers in the UK and US. It works with over 150 banks and credit providers globally, integrating lenders and publishers to improve credit distribution efficiency.
TransUnion, which previously held a 30% stake in Monevo following a minority investment in 2021, expects the acquisition to strengthen its position in the consumer lending market. The company sees prequalification as a key tool for improving credit access while minimising unnecessary credit searches that could affect consumers’ credit scores.
The acquisition aligns with TransUnion’s strategy to enhance its offerings for lenders and publishers, enabling them to provide tailored credit options with improved economics. Monevo will gain access to additional resources and markets under TransUnion’s ownership.
Legal advisors on the transaction included Jonathan Ross and Harry Hobson from Squire Patton Boggs.
RAF Scampton to be sold on open market despite regeneration plans
The UK government will sell RAF Scampton on the open market, rejecting West Lindsey District Council’s bid to acquire the site for a £300 million redevelopment project.
Earmarked initially by the previous Conservative government for migrant housing, the site’s asylum plans were scrapped in September. The Home Office cited regulatory requirements preventing a direct sale to the council, emphasising that disposal of public land must follow market rules.
Since March 2023, the site has cost over £60 million. Government officials claim the sale will prevent further taxpayer losses. Meanwhile, the council, which had partnered with Scampton Holdings Ltd. for regeneration, argues that contamination, heritage issues, and infrastructure limitations make a public-private partnership the only viable option for redevelopment.
Scampton Holdings remains committed to the project despite setbacks. Chairman Peter Hewitt criticised the delays, while local MP Sir Edward Leigh called the government’s decision “madness,” arguing it wasted time and resources on failed asylum plans.
Arrow Film Converters sale secures 55 jobs in Castleford
Arrow Film Converters, a flexible packaging firm based in West Yorkshire, has been sold out of administration to Coral Products Plc through its subsidiary, Film & Foil Solutions Ltd. The acquisition preserves 55 jobs and ensures continued operations at the company’s Castleford production facility.
Administrators James Clark and Howard Smith of Interpath were appointed on 1 April 2025 and have confirmed that the sale includes key assets such as flexographic printing machines and laminators. These will strengthen Film & Foil’s capabilities in specialist flexible packaging.
The agreement also provides a six-month licence for the business to operate from its BRCGS-accredited Castleford site.
Arrow Film Converters, which has been trading since 2003, reported a turnover of £17.9 million and a pre-tax profit of £231,295 for the year ending 31 July 2023. Coral Products Plc sees the acquisition as a strategic move to expand its production capacity, with a medium-term target of £50 million.
NHS trust secures long-term lease at Scunthorpe’s Elizabeth Quarter
The Rotherham, Doncaster and South Humber NHS Foundation Trust (RDaSH) has signed a 15-year lease for office space at Elizabeth Quarter, a newly developed council-owned building in Scunthorpe.
The three-storey property includes a ground-floor café and reception area, with modern office space spanning approximately 1,250 sqm across the upper floors. The building was marketed for lease and attracted strong interest from potential tenants.
RDaSH will use the offices for clinical consultations, patient appointments, and as the headquarters for its Community Mental Health and Talking Therapy workforce. The trust, which provides mental health and children’s services in the region, sees the move as a key part of its expansion in North Lincolnshire.
The council expects the agreement to drive further commercial interest in the site, particularly for the ground-floor café. The move aligns with its strategy to support local economic growth and ensure value for money for taxpayers.
Phlux Technology secures £9m funding to expand its infrared sensor technology
Phlux Technology, a spinout from the University of Sheffield, has raised £9 million in Series A funding to accelerate its entry into new markets. BGF led the funding round, which also included contributions from Octopus Ventures, Northern Gritstone, and Foresight.
The investment will help Phlux build on its breakthrough antimonide-based semiconductor technology, which delivers highly efficient, low-noise infrared sensors. These sensors are poised to revolutionise optical communications, enabling up to five times faster data rates and enhanced sensitivity compared to current devices. The funding will also drive expansion into industries such as industrial automation, defence, vehicle safety, and gas sensing.
With its first engineering samples showing notable performance improvements, Phlux plans to scale production, expand its engineering and commercial teams, and launch two new product ranges targeting optical communication and sensing systems. Already serving customers across Europe, Asia, and North America, the company is set to deepen its global presence and collaborate further with industry leaders.
Phlux CEO Ben White highlighted the significant market demand for high-speed optical communication systems and stated that this funding will help address long-standing technology bottlenecks.