Santander funds multi-million takeover of 11 pharmacies

News

Santander funds multi-million takeover of 11 pharmacies

In News

A pharmacist running a health company whose current portfolio consists of three retail pharmacies in Merseyside and Manchester has acquired 11 more pharmacies after securing millions of pounds in funding from a bank.

Santander UK provided £12.5m to RB Healthcare, an Aintree-based company set up by owner Rishi Bhatia in 2005. It describes itself as consisting “of mainly healthcare divisions with property interests".

It is thought the funding deal contains working capital, overdrafts and loans. As well as retail pharmacies, RB Healthcare also has an online pharmacy called Clear Chemist, which is set to benefit from a portion of the Santander funding. 

“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,” said Mr Bhatia, who is a director of RB Healthcare.

“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, said: “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.”

Record my learning outcomes

News

Inspiring stories related to health, fitness and the pursuit of wellbeing

Share:

More like this

bookmark_icon_off
News

The sector risks being left behind when it comes to ICS policy, the NPA warned.

1 Min Article

bookmark_icon_off
News

Simon Dukes: Building leverage takes time

The five year funding deal isn't perfect but puts pharmacy on the right course, claims Dukes.

2 Min Article

bookmark_icon_off
News

We need transparency and profession-wide talk about hub and spoke

Pharmacist Ade Williams said hub and spoke could be “a death knell for independents.”

2 Min Article

bookmark_icon_off
News

Mental health champions should be in all pharmacies across the country

Mental health first aiders have a crucial role to play according to a Pharmacy Show panellist.

1 Min Article

bookmark_icon_off
News

RPS president urges Javid to support pharmacy prescribing in all settings

Claire Anderson has urged theGovernment to give pharmacists the resources and scope to prescribe.

1 Min Article

bookmark_icon_off
News

Boots pharmacy sales up 11pc in 'strong' quarterly performance

Retail sales were up 15 per cent in the three months to August 31 while pharmacy sales were up 11 per cent.

1 Min Article

bookmark_icon_off
News

Time constraints 'stop independents providing new services'

A study has found 43 per cent of pharmacies do not have time to offer more services.

1 Min Article

bookmark_icon_off
News

Safe to deliver Covid and flu jabs together, study shows

No safety issues and immune response preserved, DHSC funded study shows.

1 Min Article

bookmark_icon_off
News

Contractors given 48 hours to act on Champix recall

Pfizer is recalling all in-date batches of Champix as a precautionary measure.

1 Min Article

bookmark_icon_off
News

Pharmacy flu jabs up 30pc on previous year in England

Pharmacies vaccinated over 1.8 million people in the first weeks of this year's flu programme.

1 Min Article

bookmark_icon_off
News

Pharmacist buys two pharmacies to provide Covid booster jabs

Three pharmacies owned by Sachin Tammewar will deliver Covid booster jabs later this month.

1 Min Article

bookmark_icon_off
News

CPCS may be replaced, says Javid as he announces winter funding

Javid announces plans to make GPs 'more available' to patients.

2 Min Article

bookmark_icon_off
News

Tesco cough and cold batches recalled by MHRA

The chain has recalled 78,000 packs incorrectly stating that 12-year-olds may use the medicine.

1 Min Article

bookmark_icon_off
News

Over-60s told not to take aspirin to prevent CVD

Researchers say people in their 40s and 50s can take aspirin as a preventative step only.

1 Min Article

bookmark_icon_off
News

Health secretary receives flu jab at independent London pharmacy

Javid received his jab at Keencare Pharmacy in central London.

1 Min Article

bookmark_icon_off
News

Scottish Govt explores 'further powers' on pharmacy closures

CPhO Alison Strath says the Scottish Government is monitoring the issue of short notice closures.

1 Min Article

bookmark_icon_off
News

Northern pharmacy chain to sell 16 branches

The Hub Pharmacy puts most of its stores up for sale after six years in business.

1 Min Article

bookmark_icon_off
News

Well makes a second 'recognition payment' in October to thank staff for pandemic efforts.

1 Min Article

bookmark_icon_off
News

Labour MP campaigns to end HRT prescription charges

Carolyn Harris hopes her bill will help change the law on HRT prescriptions.

1 Min Article

bookmark_icon_off
News

GPhC to consult on rule changes to allow FtP hearings by videolink

The GPhC wants to make rule changes permanent after pandemic.

1 Min Article

Recommended Learning

bookmark icon off
Sponsored education

Sore throat treatment update

Update your knowledge on treating sore throat without antibiotics with this short, interactive module.

10 Min Module

bookmark icon off
Sponsored education

Pain conversations - making effective recommendations

Explore our detailed case studies to help understand how to advise customers on different causes of pain.

15 Min Module

Sponsored education

Acute diarrhoea: effective symptom management

This module busts the myths surrounding diarrhoea treatments and explores the products available OTC so you can recommend the right treatment.

10 Min Module

bookmark icon off
Sponsored education

Supporting daily digestive health

Learn about the crucial role of gut bacteria and how a healthy microbiome can support daily digestive health

2 Min Module

Sponsored education

Covid-19 and mental health

Viatris has created this short video based on a publication reviewing global research into the potential impact of the Covid-19 pandemic on mental health. It identifies six areas where psychiatrists can play a role in supporting people's mental health through these difficult times.

4 Min Module

bookmark icon off
Sponsored education

Understanding abdominal pain, cramps and IBS

This short video explains the symptoms of irritable bowel syndrome (IBS) and how it differs from abdominal cramps to help you recommend a suitable product for your customer’s needs.

3 Min Module