BEDPAN maker Verna Group is up for sale with a minimum price tag of £60 million.

There had been expectation among venture capital experts that the Bolton firm would sell for between £40 and £50 million.

But bosses at the company, which employs 1,500 people, said the bidder would need to pay £10 million more than that.

Verna Group, on Folds Road, Bolton, has a turnover of £55 million, with profits of around £7 million.

It manufactures a range of pulp-based receptacles including bedpans and urine bottles through its Vernacare arm.

It also produces medical mattresses and cushions as well as providing community carers for the elderly through its Verna Community Care group.

Chief executive Bernard Hatton, who has been with the firm for 32 years, said: "Interest in the firm has been considerable. I am confident a figure of at least £60 million will be achieved."

He added: "We are very conscious that the firm goes to the right buyer." Verna Group is the UK's leading market leader in its field, and its products are used in around 75 per cent of British hospitals.

Possible trade buyers interested in the company are US giant Cardinal, Synergy Healthcare and Bundzl.

Barclays, Private Equity and LLoyds TSB Development Capital are also believed to have taken an interest.

The sale is being handled by Colin Gillespie, corporate partner at the Manchester office of PricewaterhouseCoopers.