This site is intended for Healthcare Professionals only.

Family-owned pharmacy group seals £4.25m funding deal with banking giant

Date:

Share post:

A pharmacy group operating in London and the surrounding areas has said it’s cliched a financial deal worth £4.25 million with a major global bank to bolster its mergers and acquisitions activity.

Osbon Pharmacy Group said on Monday (19 June) that it would use the multi-million-pound funding package from HSBC UK to also invest in bringing accessible and comprehensive medical services closer to the doorstep of Londoners and people of South East England.

The family-run business said the new money will open new position which will include opportunities for pharmacists, pharmacy assistants, pharmacy technicians, dispensers, accounts clerks and delivery drivers, taking the company’s total headcount to 185.

The group, which currently has 26 pharmacies across London and South East England, was established in 2005.

The company offers a range of medicine and prescription services as well as offering customary help and advice. It switched to banking with HSBC UK last year as part of a £6.9M refinance package, which saw the business acquire nine pharmacies and takes the total funding provided by HSBC UK to date to £11.1m.

Danny Osbon, CEO of Osbon Pharmacy Group, said: “Pharmacies embody the essence of community-based healthcare, and we are thrilled to amplify our impact across London and South East England.

“Our goal is to provide a network of conveniently located pharmacies, ensuring that vital medications, healthcare products and expert advice are readily available to all our customers and the entire community, while investing in the local economy and creating job opportunities.

“The support from HSBC UK has been invaluable, enabling us to realize our growth ambitions and extend our reach to meet the medical needs of more Londoners and the surrounding South East areas.”

Amit Tomar, Senior Commercial Manager at HSBC UK, called the deal “a significant milestone for the business” and added that it would strengthen the business to help drive improvements in health outcomes.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Current Issue June 2024

Related articles

New KCL study reveals link between gum disease and stroke in young patients

Researchers from King’s College London and the University of Helsinki have highlighted oral health, specifically gum disease as...

Reform Party UK to offer tax incentives for new pharmacies amid declining NHS outcomes

Pharmacies on the election agenda as the Reform Party UK proposes a ‘Pharmacy First, GP Second, A&E Last’...

CPE invites North East pharmacy owners to join its roadshow on 3 July

Pharmacy owners and LPCs are encouraged to share their views and pose questions to the CPE team  Community Pharmacy...

PDA launches election manifesto, urges government to invest in workforce  

PDA’s election manifesto emphasises the need to allocate ringfenced funding for staffing to address workplace pressures and burnout...