A Merseyside-based independent community pharmacy group has sealed a deal to buy 11 more sites after receiving a £12.5m funding package.
Aintree-based RB Healthcare has added the new sites which are across Manchester and Merseyside in a 'one-off' deal, with the finance package from Santander 海角视频 including property loans, term debt, working capital and overdrafts.
RB Healthcare said the move would "significantly build" on its existing portfolio of three pharmacies, which are in the same area.
READ MORE: Arrow Global turns losses to profits as firm delivers 'strong' second quarter
The company also has an online pharmacy, Clear Chemist, which it plans to grow with support from Santander 海角视频’s funding.
Rishi Bhatia, RB Healthcare co-director, said: "Santander 海角视频 has an in-depth understanding of the healthcare sector, our business’ growth plans, and, crucially, our core values - all of which are essential qualities in a banking partner.
Don't miss a thing - sign up for your free North West newsletter - and follow us on LinkedIn
Email newsletters
BusinessLive is your home for business news from around the North West- and you can stay in touch with all the latest news from Greater Manchester, Liverpool City Region, Cheshire, Lancashire and Cumbria through our email alerts.
You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we'll send out breaking news alerts for any stories we think you can't miss.
Visit our email preference centre to sign up to all the latest news from BusinessLive.
For all the latest stories, views, polls and more - and the news as it breaks - .
"The funding structure that Santander 海角视频 has put in place has allowed us to start achieving our goals from the outset. Community pharmacies have been at the forefront of healthcare during the pandemic, and Santander 海角视频 is the ideal bank to be beginning our next chapter with."
Most Read
The community pharmacy has also been involved in England’s vaccination effort, vaccinating local residents after winning a number of Covid vaccination contracts with the Government.
It has also switched its day-to-day banking to Santander.
Latest Liverpool City Region Business News
Andy Casey, head of medical at Santander 海角视频, said: “We are delighted to support RB Healthcare’s major acquisition of 11 community pharmacies, and to bring it on board for all its day-to-day banking.
"The company is a well-known and much valued operator in the community pharmacy sector in the North West, and we look forward to helping it achieve its growth plans in coming months and years.”