BGF et al. inject £7m into Pharmacy2u

The firm plans to use the investment to support growth of its home delivery repeat prescriptions service for NHS patients.

The funding comes 10 months after the company secured an initial £10m growth capital investment from BGF, which was used to support the merger between Pharmacy2u.co.uk and ChemistDirect.co.uk, an online retailer of healthcare, beauty and pet care products.

A redesigned website and a multi-channel marketing plan, including TV, press, radio and online advertising, has doubled new patient registrations in the last six months, according to the business.

This is BGF's eighth investment of the year. Its biggest deal of 2017 so far was the £10m early-stage investment in Frontrow Energy Group.

Company
Established in 1999, Leeds-based Pharmacy2u was the UK's first online pharmacy. It played a role in the development of the NHS Electronic Prescription Service and assisted the NHS in the first pilot programme in 2001. It now claims to be the largest NHS contracted online pharmacy.

People
Business Growth Fund – Richard Taylor, Rob Johnson, Chris Boyes (investors).
Pharmacy2u – Mark Livingston (CEO); Gary Dannatt (CFO); Daniel Lee (COO).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• BGF (Business Growth Fund)
• United Kingdom