This site is intended for Healthcare Professionals only

Yorkshire pharmacy group expands with seven-figure refinance loan


Yorkshire pharmacy group expands with seven-figure refinance loan

Yorkshire-based pharmacy group Pharm-Assist has expanded its portfolio using a seven-figure loan.

The company decided to build on its existing footprint in the Seacroft and Halton areas of Leeds by acquiring the Priory Pharmacy in Cornlands Road in York using a refinance loan from Unity Trust Bank.

Pharm-Assist is owned by Ashley and Nikki Cohen (pictured), who now employ more than 60 members of staff. Their latest acquisition, a 100-hours pharmacy collocated with a GP surgery, was previously managed in a joint venture with GPs.

Mr Cohen said: “Our GP partners decided to sell their pharmacy shares but when I approached my previous bank about buying the Priory Pharmacy they put the figures through credit control and the computer said ‘no’.

“That’s when I approached Unity Trust Bank because they have a real appetite for supporting the pharmacy sector.

He added: “I’m a qualified pharmacist but I’ve always been business minded.

“After working in the NHS and commercial healthcare sector I wanted to create a pharmaceutical society that provided something different.

“Pharm-Assist has become a bit of a hub and as well as supplying medication, our staff carry put clinical work for clients and provide training, advice and support.

Michael Wicks, relationship manager at Unity Trust Bank, said: “As a bank that is committed to supporting frontline healthcare operators, we are delighted to assist Ashley and Nikki in their latest acquisition.

“Pharm-Assist provides an impressive package of services in local communities which help some of the most vulnerable members of society and reduce the pressure on GP practices.”

Copy Link copy link button


Stay up to date with all the news, learning and insight in the world of pharmacy.