Funding deal sees Glasgow pharmacy group step up Edinburgh presence

A family-owned pharmacy group has secured an eight-figure funding deal to support its ambitious acquisition strategy

M&D Green Group, which is headquartered in Glasgow, has agreed the credit facility with HSBC UK to enable the business to make five strategic acquisitions, strengthening its footprint on the east coast.

The firm has acquired four pharmacies around Edinburgh - MacKinnon Pharmacy, Sighthill Health Centre Pharmacy, Calder Pharmacy, Carrick Knowe Pharmacy - as well as Stepps Pharmacy in Glasgow.

The business now encompasses 30 pharmacies, predominantly serving the Central Belt. It plans to continue on this growth trajectory and seek out further acquisition opportunities.

Managing director Martin Green said: “We’re continually looking at how we can develop our offer. Through the increasing role community pharmacy plays within primary care, with each acquisition we aim to improve and extend access to services and pharmaceutical care to a wider population.

“We’re very grateful for HSBC UK’s support. It not only enables us to pursue the right opportunities - even when those opportunities present themselves at the same time - but it allows us to invest in the businesses so that we can provide the best possible care to our communities.”

Grant Bett, relationship director at HSBC UK, added: “Pharmacies have always played a key role in providing healthcare services, and enabling them to grow and invest in their offer and the support they can give is hugely important. After working with M&D Green Group to understand the long-term strategy of the business, we’re delighted to support the company with this significant credit facility.”