Edinburgh-based Quantics Biostatistics is moving to an employee ownership model. The company is a biostatistical solutions provider to clients developing medicines in the pharmaceutical and biotech sectors and was established in 2002 by Ann Yellowlees.
The transition to an Employee Ownership Trust (EOT) “recognises, rewards and empowers the employees who are integral to Quantics’ continued success,” the company says. There are reportedly around 150 employee-owned companies operating in Scotland, with the Scottish Government targeting 500 by 2030. Employee-owned businesses are predicted to play a significant role in the economic rebound after COVID-19 in Scotland, the company says.
Ann Yellowlees, founder and Director, Quantics, said: “Our diverse, dynamic and talented team is at the very core of our business. We’re delighted to provide the team with the opportunity to continue to grow the company and share in its future prosperity. We’re confident that this aligns with the interests of our clients, our team and the business, while also empowering the next generation of talent.”
Philip Speakman, CEO, Quantics, said “We’re proud of our supportive and collaborative working environment. Everyone here has been involved in growing Quantics to what it is today, expanding three-fold in the last five years. The new ownership model will help to foster an even stronger culture and collective responsibility to help drive the Quantics of tomorrow. With the support of Scottish Enterprise and expert guidance from Ralph Leishman, employee ownership specialist, it was a very smooth process, and we all look forward to a great future working together as employee owners.”