A Skelmersdale company behind growing online pharmacy Chemist4U has received a £12m investment from Bolton’s Pitalia Capital.
Parent company, JCCO Healthcare, also includes the weight management platform myBMI.
James O’Loan, chief executive of both Chemist4U and myBMI, said the funding would “turbocharge” growth.
Chemist4U has acquired a 40,000sq ft property in Skelmersdale to centralise its operations and plans to increase its workforce from 120 to 150 inside 18 months.
The online pharmacy handles 190,000 orders a month and is on track to hit £29m turnover in the 12 months to the end of September – up from £21m in 2021/22.
Chemist4U was launched to disrupt the pharmacy industry through technology. NHS dispensing is one of three divisions within Chemist4U, alongside an over-the-counter medicine platform and a white labelled outsourced dispensing pharmacy service.
PMSI provided CDD to support the transaction, and addressed key investment themes including the development of online prescriptions, the short and longer term impacts of COVID on the industry, Chemist4U’s competitive positioning, and a review of the industry’s regulatory and funding landscape.
Investment fund prescribes £12m boost for online pharmacy group
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