Independent Liverpool pharmacy business RB Healthcare has secured more than £12.5m from Santander UK to acquire 11 pharmacies in Merseyside and Manchester. Tony McDonough reports

Independent Liverpool pharmacy business RB Healthcare has acquired 11 pharmacies across Merseyside and Manchester after securing more than £12.5m in bank funding.

It represents a significant expansion for RB which currently operates just three pharmacies in the North West. The company also operates an online pharmacy called Clear Chemist.

RB has now secured a funding package from Santander UK which comprises property loans, term debt, working capital and overdrafts. The business has also switched its day-to-day banking to Santander UK.

This year, the community pharmacy has been involved in England’s vaccination effort, vaccinating local residents after winning a number of COVID vaccination contracts with the Government.

Rishi Bhatia, RB Healthcare co-director, said: “Santander UK has an in-depth understanding of the healthcare sector, our business’ growth plans, and, crucially, our core values – all of which are essential qualities in a banking partner.

“The funding structure that Santander UK has put in place has allowed us to start achieving our goals from the outset. Community pharmacies have been at the forefront of healthcare during the pandemic.”

Andy Casey, head of medical at Santander UK, added: “We are delighted to support RB Healthcare’s major acquisition of 11 community pharmacies, and to bring it on board for all its day-to-day banking.

“The company is a well-known and much valued operator in the community pharmacy sector in the North West, and we look forward to helping it achieve its growth plans in coming months and years.”