Thu, 13 Jun 2024 | BUSINESS SALE
Knights Pharmacy has expanded with the acquisition of two sites in South Wales. The acquisition of the sites in Abercarn and Cwmcarn, previously owned by Evans Group, was backed by a funding package from HSBC UK.
The Abercarn site dispenses approximately 12,000 items annually, while the Cwmcarn site issues around 5,000. Following the deal, Knights intends to enhance services at the Abercarn pharmacy through the opening of an additional treatment room.
Knights also plans to continue offering independent prescribing services at both pharmacies, enabling pharmacists to prescribe medicines for minor illnesses.
The acquisition means that Knights has grown from operating 18 community pharmacies in 2021 to now having 49 sites across England and Wales. The firm’s sites are generally high volume and well-established in their communities, collectively dispensing well in excess of six million items per year.
Knights Pharmacy Managing Director Anand Sodha (pictured above, right) commented: “We‘ve successfully built our presence across South Wales and the West Midlands over the past number of years.”
“Our plan for these two additional sites, and for the rest of our locations, is to focus on continually bettering our services. By offering vital treatment for minor ailments, we can help to alleviate the pressure on the NHS and ensure our customers receive the care they need.”
HSBC UK Relationship Director for West Midlands MME Partho Bose (pictured above, left) added: “Knights Pharmacy’s commitment to community health and its vision for growth aligns with our goal of backing ambitious businesses. We look forward to seeing the positive impact these acquisitions will have on local communities in South Wales.”
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