Modern Slavery Act Policy


This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes our slavery and human trafficking statement for the financial year ending 31st December 2023.

This statement sets out the steps EconoMed takes to understand and address any risk of slavery and human trafficking related to its business.

Our Business

We sell, market, and distribute a broad range of own and third party-branded pharmaceuticals and medical devices to hospitals, pharmacies, GPs and other healthcare providers in the UK and Europe. We also supply a wide range of other customers, on a B2B and B2C basis.

EconoMed is a privately-owned company, and the headquarters are in Warwick in West Midlands.

The primary sources of the products we distribute are supplied by regulated pharmaceutical and medical device manufacturers and distributors. Most of these organisations are in countries where the risk of modern slavery and human trafficking is low. Where we already deal with suppliers in countries where this risk is higher, more robust controls are in place.

Our Policy

EconoMed is opposed to slavery and human trafficking in any part of our business or our supply chain. We are therefore committed to ensuring that we have suitable procedures in place to identify and prevent these practices.

Our working practices and Human Resource policies commit EconoMed to providing a workplace that is free from discrimination, intimidation, hostility, and violence.

Our Policies on Slavery and Human Trafficking

This Policy requires us to consider the risk of slavery or human trafficking arising in the countries where our suppliers are located. Having conducted this risk assessment, the Policy requires us to conduct suitable due diligence and to put in place controls to prevent slavery and human trafficking.

As part of our compliance with the Modern Slavery policy, EconoMed are committed to taking the following steps:

  • to assess potential risk areas in our supply chains, including where suppliers are in countries where modern forms of slavery or human trafficking are prevalent
  • to mitigate the risk of slavery and human trafficking occurring in our supply chains, including by reviewing the controls that our suppliers have in place and carrying out other suitable checks
  • to monitor potential risk areas in our supply chains on a periodic basis.

Where we identify instances of modern slavery or human trafficking, we will take suitable action to deal with the issues in question- action taken may include not appointing the supplier. It maybe also involve notifying relevant authorities of the issues involved.

Where a supplier does not have suitable controls in place to prevent slavery and human trafficking, we will consider whether we can work with them to implement improvements.

Responsibility for ensuring that our procedures are adequate and are adhered to in all areas of our activities rests with the senior management team of EconoMed.


All employees involved in supply chain and recruitment have been trained on the requirements of the Act. This training is regularly reviewed.


EconoMed do not see any risk of forced labour or child labour within our own organisation and we work closely with new and existing suppliers to reinforce our zero tolerance approach on such issues.

This statement was approved by Fred Hopkinson, Managing Director, on 25th January 2024.