£7m boost for online pharmacy serving NHS
Online pharmacy Pharmacy2u has received £7million investment to drive growth.
The Leeds-based firm delivers 700,000 prescription items a month and is the largest online pharmacy serving NHS patients.
The cash comes from the Business Growth Fund and other shareholders. Just 10 months ago it received £10m growth capital investment from the BGF when it merged with Chemist.co.uk.
Chief executive Mark Livingstone, who co-founded LoveFilm, said: “With BGF’s investment we were able to successfully merge two of the UK’s leading online pharmacists.
“The BGF has provided us with counsel throughout the year and we are delighted to have secured further investment from it and other shareholders.
“[We are focused on] pioneering the most cost-effective digital pharmacy service we can.”
Pharmacy2u, founded by pharmacist Daniel Lee in 1999, also offers clinical advice and assistance with medication management from pharmacists.
The Business Growth Fund was established in 2011 to help SMEs and is backed by Barclays, HSBC, Lloyds, RBS and Standard Chartered.