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NPA and others put £1.2m funding into Charac pharmacy app

Pharmacy News

NPA and others put £1.2m funding into Charac pharmacy app

Charac, an NHS-integrated pharmacy app designed to lessen independent community pharmacies' operational burdens and help them deliver on the government's Pharmacy First approach, has raised some £1.2 million in debt and equity financing jointly from the National Pharmacy Association and pharmacy owners.

Following a £1 million investment from Royal Mail, this brings total funding to date to £2.5 million. The app’s owners, based in Bromley, Kent, say discussions are on-going with leading venture capital firms for further funding.

They claim over 400 pharmacies have already signed up to the Charac app, and project that some 2,000 pharmacies will be using it by next year. Currently there are around 25,000 patients using Charac's platform and that is projected to rise to 100,000 by the March 2024.

In 2022, the NPA agreed to a long-term partnership with Charac to accelerate the digital transition of independent community pharmacies. The app is currently promoted on the NPA website, and the Association says the funding injection provides Charac with the financing to further enhance its app and the services it can offer.

The app claims to allow pharmacies to see the value of each customer, manage workload more efficiently and reduce unnecessary phone calls. For pharmacies delivering to patients, Charac has an exclusive Royal Mail partnership giving a fully integrated system for pharmacies and their patients.

The funding comes at a time when pharmacies will soon be under further pressure because of the government's planned Pharmacy First approach, says Charac founder Santosh Sahu. "Longer-term this is good news, but right now many pharmacies are focusing more on survival and will struggle to fulfil the new expanded role planned for them by the government," he said.

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