By Neil Trainis

This story was originally published by Independent Community Pharmacist

HSBC has provided Jhoots Pharmacy with £17.4 million in funding to purchase 36 LloydsPharmacy branches.

The acquisitions take the number of pharmacies owned by Jhoots’ in the UK to 99, with six of those LloydsPharmacy branches understood to be in Wales in areas such as Risca, Morriston, Caerphilly and Bridgend.

It is thought the acquisitions will protect 212 jobs and create 130 roles and Jhoots said it will use the funding “to undertake refits and enhance pharmacy offerings” in those areas.

The chain is currently recruiting for pharmacist managers, pharmacy assistants and dispensers and its business development director Sarbjit Jhooty said HSBC’s “backing” will allow Jhoots to provide “a service that puts the community first, with a strong face-to-face approach that will offer enhanced support to local areas.”

HSBC UK’s relationship director Partho Bose said: “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.”