Derbyshire-based Peak Pharmacy has secured an eight-figure refinancing package from HSBC UK to help power its growth plans.
The funding will support the company’s automation strategy following the development of a new 113,000 sq ft warehouse, known as ‘Horizon’. The facility is designed to boost operational efficiency and increase workforce capacity at their branches by over 50 per cent, allowing pharmacy teams to dedicate more time to patient care.
With over 130 pharmacies nationwide, Peak Pharmacy currently supplies approximately 1.5 per cent of the prescriptions in England. The new investment will help the business grow further, with plans for strategic acquisitions and service improvements already underway.
The company is also on track to reach a milestone – £200 million in turnover by the end of the year, its highest to date.
Joe Cattee, managing director at Peak Pharmacy, said: “HSBC UK really understood what we were looking for and invested time with us. After a very longstanding relationship with our previous banking partner, we felt it was time to explore new opportunities and take the next step in growing our business.
“As we invest more in automation and continue prioritising patient service, having HSBC UK by our side gives us the confidence and support to build for the future.”
Philip Carr, senior relationship director at HSBC UK, said: “It’s a pivotal time for pharmacies and the role they play in supporting primary healthcare. Businesses like Peak Pharmacy need the headroom and financial flexibility to grow, adapt and keep their patients at the heart of what they do.”
Dave Ramsden, head of East Midlands corporate, at HSBC UK, added: “Working with Peak Pharmacy underscores HSBC UK’s commitment to offering tailored solutions that help businesses grow and improve. We’re looking forward to seeing the business continue to thrive and bring even more value to the communities they serve.”
