Pictured - Partho Bose, HSBC UK (spotted tie), Sarbjit Singh Jhooty (plain red tie), Manjit Singh Jhooty (stripey tie). Credit: Dave Warren/Picture Team
West Midlands-headquartered independent chain Jhoots Pharmacy has acquired 36 local pharmacies, previously owned and managed by Lloyds Pharmacy, including two in Dorset, supported by a £17.4 million funding package from HSBC UK.
The move is set to protect 212 jobs and create up to 130 new ones and the sites include stores in Lyme Regis and Shaftesbury.
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Jhoots Pharmacy already owns and operates 63 sites across the UK and the cash will be used to undertake refits and enhance pharmacy offerings, such as referrals from doctors, sexual health consultations and travel clinics in a bid to alleviate GP waiting times.
"We were looking for the right banking partner to support our business and our vision to grow into a larger pharmacy chain," said Sarbjit Jhooty, the business development director at Jhoots Pharmacy.
"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."
Jhoots Pharmacy offers a full range of essential, advanced and enhanced NHS Services as operated by the local commissioners.
HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates.
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