AN independent, family-owned Scottish pharmacy group has secured eight-figure funding from HSBC UK to support its ambitious acquisition strategy.
M&D Green Group, which is headquartered in Glasgow, has secured an eight-figure credit facility from HSBC UK to enable the business to make five strategic acquisitions, strengthening its footprint on the east coast. The business has acquired four pharmacies around Edinburgh – MacKinnon Pharmacy, Sighthill Health Centre Pharmacy, Calder Pharmacy, Carrick Knowe Pharmacy – as well as Stepps Pharmacy in Glasgow.
M&D Green Group’s business now includes a total of 30 pharmacies, predominantly serving the central belt. The business plans to continue on this growth trajectory and seek out further acquisition opportunities.
Martin Green, Managing Director at M&D Green Group, said: “We’re continually looking at how we can develop our offer, and we’re delighted to grow our presence in the east coast and North Lanarkshire. Through the increasing role community pharmacy plays within primary care, with each acquisition we aim to improve and extend access to services and pharmaceutical care to a wider population.”
“We’re very grateful for HSBC UK’s support. It not only enables us to pursue the right opportunities – even when those opportunities present themselves at the same time – but it allows us to invest in the businesses so that we can provide the best possible care to our communities.”
Grant Bett, Relationship Director at HSBC UK, added: “Pharmacies have always played a key role in providing healthcare services, and enabling them to grow and invest in their offer and the support they can give is hugely important. After working with M&D Green Group to understand the long-term strategy of the business, we’re delighted to support the company with this significant credit facility as it continues with its ambitious growth strategy.”
The funding has been provided as part of HSBC UK’s SME Fund, with £1bn funding ringfenced to support Scottish SMEs, from a wider £15bn Fund announced across the UK.