A York-based manufacturer of medical brain scanners which also has offices in London, Helsinki and Florida, is planning to accelerate its overseas growth following a seven-figure funding package from HSBC UK.

Established in 2015, York Instruments designs and builds medical brain scanners which assist in the diagnosis and treatment planning for a variety of brain disorders such as epilepsy, as well as scanning for brain tumours and sporting injuries.

The firm will use the funding to boost its production of scanners in order to meet demand from clients in North America, including sporting institutions such as the National Football League.

The company’s magnetoencephalography (MEG) technology was initially developed by the team at the York Neuroimaging Centre, an open research facility based at the University of York. Three years later, York Instruments now supplies scanners that combine high performance cryogenics with sensors, electronics and software.

York Instruments anticipates that the funding will also trigger a boost in turnover and create more jobs in the coming 12 months. It currently employs 46 staff at its York head office.

The company’s chief operating officer, John Fulford, said: “We’re a young business so it was critical that we secured the necessary capital to help finance the build of our new scanner to meet customer orders.

“There are currently just 200 MEG scanners world-wide but we believe there is a potential market for over 2,000 units – so we have significant opportunity for growth. With HSBC UK’s backing we’re ideally positioned to push forward with plans to capture this market.”

Tom Sikora, HSBC UK’s relationship director for corporate banking, added: “York Instruments is a great example of the type of dynamic and export hungry businesses we’re proud to support.

“The company is a highly specialised manufacturer that is focused on pursuing innovation and looks to the global marketplace to do business. We’re excited to see what the next year has in store for it.”