Wholesaler CST Pharma secures £26m funding from HSBC UK


Share post:

Walsall-headquartered pharmaceutical wholesaler, CST Pharma has secured a £26 million Asset Based Lending Facility from HSBC UK to drive its expansion plan.

In the last three years, the firm has grown by forming partnerships with Acre Pharmacy, and acquiring Spanish wholesaler Saima SL.

The funding, advised by Shoosmiths and Gordon Brothers, will enable the group to purchase additional stock, allowing the group to expand its team with 25 more hires, and up to 10 more planned for the coming month.

It has also allowed the company to upgrade its IT systems and improve its quality management system.

CST Pharma warehouse

Jason Yates, managing director of CST Pharma has worked in the business since 2006 and acquired the firm in 2018, implementing a new board and management structure.

Yates said: “Since acquiring CST Pharma, we have been striving to grow the business. The support we received from HSBC UK has been invaluable in allowing the purchase of more stock, so we can meet this objective and develop the business to its full potential, as well as improving our systems to ensure the sustainability of the company.”

Bill Dwight, relationship director at HSBC UK, said: “We’re delighted to have been able to support CST Pharma with this significant facility and become its dedicated finance partner.

“The company has skilfully navigated the challenges brought about by Covid-19 and Brexit, and the funding package will allow CST Pharma to continue to grow and pursue its strategic priorities. This will result in the onboarding of more staff and be beneficial to the local area.”


Please enter your comment!
Please enter your name here

Current Issue October 2023

Related articles

England lost more than 1,000 pharmacies in the last eight years, says CCA

Community pharmacies are currently facing a worrying mix of funding, workforce, and workload pressures The Company Chemists’ Association...

NHS care delays led to 112 deaths, harmed 8,000 people in England last year

The number of patients dying due to care delays have risen more than fivefold over the last three...

Whitworth Chemists puts six high-dispensing Blackpool pharmacies up for sale

The family-owned business has decided to sell all 34 pharmacies across the North of England Whitworth Chemists Limited...

Babies born with Wolman disease can now receive a life-saving treatment on the NHS

The new enzyme replacement therapy improves patient’s life expectancy and quality of life in clinical trials   For the first...