Glasgow pharmacy chain secures eight-figure loan to expand
Family-owned pharmacy chain M&D Green Group is to expand its footprint across Scotland’s central belt using an eight-figure loan.
The company will use the money, which comes from HSBC UK’s SME lending fund, to buy five pharmacies, bringing its total network of pharmacies to 30.
The new stores include Stepps Pharmacy in Glasgow and four around Edinburgh.
Managing director Martin Green 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.
Mr Green said the loan “not only enables us to pursue the right opportunities – even when those opportunities present themselves at the same time - but it allows us to invest in the businesses so that we can provide the best possible care to our communities”.
HSBC’s fund for small-to-medium enterprises is worth £15bn in total, with £1bn ringfenced for Scottish businesses.
HSBC UK’s Grant Bett said: “Pharmacies have always played a key role in providing healthcare services, and enabling them to grow and invest in their offer and the support they can give is hugely important.”
“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.”