Coalesce was conceived early in 2009. The founders had worked together, at different times, in technology consultancies and pharmaceutical companies in the so-called Silicon Fen technology cluster in and around Cambridge, UK. We wanted to use our collective experience to create a company focussed on customers’ needs.
In July of 2009, the quality system and design infrastructure were established and the company was formally launched. Our experience in developing drug delivery devices, and our contacts in the pharmaceutical industry, led almost immediately to valuable projects and long-term relationships.
The profits from these collaborations helped us to grow organically. We expanded our headcount and our capabilities and became ISO13485-certified.
In 2014, the Board was faced with a choice: to grow the development services business, or to invest some of the profits and resources into developing our own proprietary technology and products. The appeal of creating shareholder value and scalability by developing and owning intellectual property outweighed the prospect of simply increasing turnover and profits by significantly growing the size of the team. Consequently, the focus has shifted to using investor funds to develop our own portfolio of products, whilst reserving approximately 25% of our technical resource to service existing client relationships.