Pharmacy2u, an NHS approved online pharmacy has secured a further £7 million of investment from BGF and other shareholders to continue to support the rapid growth of its home delivery repeat prescriptions service for NHS patients.
The funding package comes ten months after the business secured an initial £10 million growth capital investment from MGF to support the merger between Pharmacy2u and ChemistDirect to create a single company with the UK’s largest customer base in the sector. The new funding will enable the Leeds based company to accelerate its marketing activity and deliver long-term growth across the business.
Pharmacy2u has the capacity to dispense up to 700,000 prescription items a month and offers a home-delivered repeat prescription service using qualified pharmacists. The management team led by Mark Livingstone, CEO, Gary Dannatt, CFO, and Daniel Lee, COO, has successfully integrated the two businesses, improved operational efficiencies and transformed the brand and marketing strategy. Its newly redesigned website and a multichannel marketing plan which includes TV, press, radio and online advertising as doubled patient registrations in the last 6 months with monthly prescription volumes more than doubling over the last 12 months.
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