Health business acquires 36 pharmacies with £17m funding deal

Health business Jhoots Pharmacy has acquired 36 community pharmacies, protecting 212 jobs and creating up to 130 new roles.

The new sites span from the Peak District to Hampshire and were made feasible by a £17.4m funding package provided by HSBC UK.

The company already operates 63 sites across the UK and will use the funding to undertake refits and enhance pharmacy offerings, ensuring local communities have access to urgent care services, such as referrals from doctors, sexual health consultations and travel clinics to alleviate GP waiting times.

Sarbjit Jhooty, business development director at Jhoots Pharmacy, said: “We were looking for the right banking partner to support our business and our vision to grow into a larger pharmacy chain. With HSBC UK’s backing, we’re committed to providing a service that puts the community first, with a strong face-to-face approach that will offer enhanced support to local areas.”

Andy Oates, head of corporate Banking West Midlands, at HSBC, said: “The Midlands is an attractive hub for business and people. We want to open a world of opportunity for our customers and are pleased to be supporting the growth of an important community business and regional economy.”