Digital pharmacy CloudRX is at the heart of a \u00a341.7m triple acquisition that will see Vulcan Two Group attempt to build the UK\u2019s leading regulated ePharmacy platform.<\/p>\n
The acquisition of CloudRx – founded in 2019 by Daniel Lee and Dr Julian Harrison, both previously founders of Pharmacy2U \u2013-forms a central plank of the strategy. Now one of the UK\u2019s largest digital private prescription dispensers by volume, the business combines a digital prescription platform with a fully regulated pharmacy, dispensing medicines across the private healthcare sector.<\/p>\n
Operating from Leeds with 21 employees and three consultants, CloudRx has scaled rapidly. Revenues have grown from \u00a35.4m in the year to 30 November 2021 – largely driven by private HRT prescriptions – to \u00a323.2m in the year to 30 November 2025, expanding into categories including weight-loss treatments.<\/p>\n
The total consideration for CloudRx is \u00a336m, comprising \u00a332m in cash on completion, \u00a31m in shares in the enlarged group and \u00a33m deferred. Daniel Lee, who acquired full ownership several years ago, will step down from his executive role on completion but remain with the business for a transition period.<\/p>\n
Aim-listed Vulcan Two has also acquired Hyperdrug Pharmaceuticals, based in Middleton-in-Teeside and Webmed Pharmacy, which operate from Wilmslow, in a combined deal worth up to \u00a341.7m.<\/p>\n
The wider trio of acquisitions will see approximately \u00a337.1m paid in cash at completion. To fund the deals, Vulcan Two has launched a \u00a340m institutional placing at 200p per share via an accelerated bookbuild, representing a 9.1% discount to the previous closing mid-market price of 220p.<\/p>\n
The placing will comprise a \u00a335m non-VCT tranche and a \u00a35m VCT tranche. Net proceeds, alongside existing cash, will fund the initial consideration, provide working capital, support bolt-on acquisitions and drive further growth.<\/p>\n
The transactions constitute a Reverse Takeover under AIM Rule 14 and are subject to shareholder approval.<\/p>\n
On completion, the enlarged group is expected to generate more than \u00a335m in revenues, with a high proportion of recurring income and underlying profitability from core operations.<\/p>\n
Vulcan Two chief executive Michael Kraftman said the acquisitions would form \u201cthe foundation\u201d for building a scaled, regulated ePharmacy platform, adding that the group was well positioned to capitalise on strong market tailwinds and future consolidation opportunities.<\/p>\n
CloudRx was advised by Will Arnold and Ben Holton of Sentio Partners.<\/p>\n","protected":false},"excerpt":{"rendered":"
CloudRX part of \u00a341.7m triple acquisition as Vulcan Two works to build UK\u2019s leading regulated ePharmacy platform<\/p>\n","protected":false},"author":271992,"featured_media":2149271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57362,2,137107],"coauthors":[137100],"class_list":["post-2150956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions","category-deals","category-pharmaceutical","tag-featured-story","tag-top-story","tag-yorkshire"],"yoast_head":"\n