Double deal secured by acquisitive pharmacy group

A Redditch-based pharmacy group has expanded its presence in South Wales by acquiring two new sites, backed by a funding package from HSBC UK.

Knights Pharmacy has purchased the Newport locations in Abercarn and Cwmcarn from the Evans Group.

The Abercarn site dispenses 12,000 items annually, while the Cwmcarn site issues around 5,000 items.

Knights Pharmacy plans to enhance the Abercarn site by adding a new treatment room to its existing one. They will also continue offering independent prescribing services at both locations, enabling pharmacists to prescribe medications for illnesses.

With this acquisition, Knights Pharmacy now operates 49 community sites across England and Wales, up from 18 in 2021.

Anand Sodha, managing director at Knights Pharmacy, said: “We‘ve successfully built our presence across the West Midlands and South Wales over the past number of years. Our plan for these two additional sites, and for the rest of our locations, is to focus on continually bettering our services. By offering vital treatment for minor ailments, we can help to alleviate the pressure on the NHS and ensure our customers receive the care they need.”

Partho Bose, relationship director for West Midlands MME at HSBC UK, said: “Knights Pharmacy’s commitment to community health and its vision for growth aligns with our goal of backing ambitious businesses. We look forward to seeing the positive impact of these acquisitions will have on local communities in South Wales.”