G Square backs Pharmacy2U

Following the investment, which also saw the participation of current investor BGF, G Square will become Pharmacy2U's majority shareholder.

The firm's operating partner Ted Smith will join the company's board of directors as non-executive chair to support Pharmacy2U's growth and expansion.

The fresh capital will be used by the company to finance the growth of its online NHS repeat prescription service and to further invest in the development of its technology.

Previous funding
BGF provided two separate funding rounds to Pharmacy2U, the first in 2016 to support the merger between Pharmacy2U and ChemistDirect.co.uk. The second investment came 10 months later, in May 2017.

Company
Founded by a team of pharmacists in 1999, Pharmacy2U is an online pharmacy, providing 100,000 people in the UK with their NHS repeat prescriptions. Pharmacy2U also offers a private online doctor service with registered GPs and operates through its sister company ChemistDirect.co.uk, which specialises in a range of over-the-counter medicines and general healthcare products.

Pharmacy2U's repeat prescription service has seen its number of customers surge by 178% over the past 12 months, with 25,000 new patients registering in the last month alone, according to the company.

People
Pharmacy2U – Mark Livingstone (CEO).
G Square – Laurent Ganem (founder, CEO).

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• Topics
• Expansion
• UK / Ireland
• Healthcare
• G Square Capital
• BGF (Business Growth Fund)