Jhoots Pharmacy will use the funding package to acquire the sites across the UK which were previously owned and managed by Lloyds Pharmacy, including Risca, Morriston, Caerphilly, and Bridgend.
The deal is expected to protect 212 jobs and create up to 130 new roles.
Jhoots Pharmacy, which owns and operates 63 sites across the UK, say they will also use the funding to undertake refits and enhance pharmacy offerings, ensuring local communities have access to urgent care services – such as referrals from doctors, sexual health consultations and travel clinics – to alleviate GP waiting times.
The business will be looking to save jobs and is actively recruiting for up to 130 roles, including pharmacists and qualified dispensers, as well as increasing opportunities for apprentices and trainees.
Sarbjit Jhooty, Business Development Director at Jhoots Pharmacy, said: “We were looking for the right banking partner to support our business and our vision to grow into a larger pharmacy chain. With HSBC UK’s backing, we’re committed to providing a service that puts the community first, with a strong face-to-face approach that will offer enhanced support to local areas.”
Partho Bose, Relationship Director at HSBC UK, added: “It’s extremely important to increase the access to care in the UK. With our extensive understanding and experience within the health sector, we’re providing Jhoots Pharmacy with financial foundations to realise the business’s ambitious growth plans as well as protecting and creating jobs.”
(Lead image: Dave Warren/Picture Team)
