An independent, family-owned Scottish pharmacy group has secured eight-figure funding to support its ambitious acquisition strategy.
Glasgow-headquartered M&D Green Group's new credit facility from HSBC UK will enable it 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 30 pharmacies, predominantly serving the central belt. The business plans to continue on this growth trajectory and will seek out further acquisition opportunities.
Established in 1996, the group incorporates M&D Green Dispensing Chemist, Penmans Pharmacy and T McLean & Sons.
Martin Green, managing director at M&D Green Group - who opened the first branch - 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.”
Grant Bett, relationship director at HSBC UK, added: “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 the bank's SME Fund, with £1bn funding ringfenced to support Scottish SMEs, from a wider £15bn fund announced across the UK.
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