For Financial Year Ending February 2024
Introduction
This statement is made pursuant to Section 54(1) of the Modern Slavery Act 2015 and constitutes the Medtrade Products Limited statement for the financial year ending February 2024.
We are committed to preventing slavery in our own operations and our supply chain.
We have zero-tolerance towards slavery and require our supply chain to comply with our values.
Organisational Structure
Medtrade Products Limited is a global medical device company based in the United Kingdom providing Research & Development, advanced manufacturing, regulatory and marketing to provide an unparalleled and full service support for distribution partners across the world.
We dedicate ourselves to saving and improving people’s lives by stopping bleeding and supporting the healing of chronic wounds through continual product innovation using patented and evidence-based technologies.
With headquarters in Crewe, United Kingdom, the highly experienced leadership and specialist teams work with supply chain partners present in America, China, Iceland, India and Europe, in order to provide market leading solutions in the Wound Care, Trauma and Hemostasis fields. We manage the entire product development process through to full product commercialisation.
Policies
We operate a number of internal policies to ensure we are conducting business in an ethical and transparent manner, these include the following:
- Supplier Code Of Conduct – We operate this policy to ensure our suppliers operate in compliance with relevant rules and regulations of the countries in which they operate, and seek similar commitments across their own supply chain
- Whistleblowing Policy – We operate this policy so that employees are able to raise concerns about how staff are being treated or practices within our business or our supply chains without fear of reprisal
- Staff Code of Conduct – We are committed to the fair treatment of all staff. Our staff code of conduct reflects our core values and expected behaviours and makes it clear we have a zero-tolerance approach to modern slavery
Due Diligence
As part of our efforts to monitor and reduce the risk of slavery occurring in our supply chain, we continued to implement and improve systems which sought to:
- Assess the business ethics of new suppliers during our on-boarding checks
Risk Management
Due to our business involving manufacturing activities, which were known to be a high-risk environment, we evaluated the nature and extent of our exposure to the risk of slavery occurring across our supply chains through:
- Evaluating the slavery risks of each new supplier
We do not tolerate slavery in our supply chains. Where there is evidence of failure to comply with our policies and procedures, by any of our suppliers, we will require that supplier to remedy the non-compliance.
During the financial year ending February 2024 there we no incidents identified relating to slavery within our business operations or our supply chain.
Effectiveness
We use Key Performance Indicators (KPls) to measure our effectiveness and ensure that slavery is not taking place in our business and supply chain. These KPIs are as follows:
- Company purchasing professionals to maintain CIPS (Chartered Institute of Purchasing and Supply) membership and complete the annual ethics training
- Awareness training on modern slavery issues completed by relevant staff
Training
Training on the risk our business faced from modern slavery in its supply chain was given where needed.
Our company purchasing professionals are members of CIPS (Chartered Institute of Purchasing and Supply) which, as an organisation, has a wealth of guidance and online training available.
CIPS members undertake ethics training annually, which sets a global standard for best practice.
Further Steps
We will continue to review and improve our practices to identify and, to the fullest extent practicable, eliminate modern slavery from our own operations and our supply chain.
Stephen Collins
Chief Finance Officer & Board Member
Medtrade Products Limited
28-August-2024