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London pharmacy chain secures second multimillion finance package in two years


London pharmacy chain secures second multimillion finance package in two years

A family-run pharmacy business based in London and the South East of England has received a £4.25m funding package from HSBC UK less than a year after receiving a loan of almost £7m from the bank.

The Osbon Pharmacy Group said the new funding will be used to finance mergers and acquisitions across its geographical footprint and to invest in health services.  

The group, which launched in 2005 and currently comprises 26 pharmacies, said 10 new jobs will be created, including pharmacist, pharmacy technician, dispenser, pharmacy assistant and driver positions. This will reportedly take its total staff headcount to 185.

This follows the announcement last July that the group had received £6.9m in funding from HSBC UK, a package that was used to acquire nine pharmacies in a bid to increase market share.

Osbon Pharmacy Group CEO Danny Osbon commented: “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.”

Mr Osbon said the funding package would help “us to realise our growth ambitions and extend our reach to meet the medical needs of more Londoners and the surrounding South East areas”.

HSBC UK senior commercial manager Amit Tomar said: “This is a significant milestone for the business and the communities it serves, especially as pharmacies across the UK take on more responsibilities.

“The investment will strengthen Osbon Medical’s business while offering customers greater convenience, a comprehensive range of products and personalised care, helping to drive improvements in health outcomes.”

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