Yorkshire Bank dispenses MDS Healthcare funding
Preston-based MDS Healthcare is looking to increase its capacity, double its pharmacy operations, and hire more staff after securing a finance deal.
The business has received a £640,000 working capital facility from Yorkshire Bank which will help purchase two new pharmacies in Blackburn.
"As a company with a growing reputation in our field we have ambitions to expand further in the coming years," said Javid Patel, commercial director of MDS Healthcare.
"Since forming our own operation three years ago, it has been a particularly successful period and we’re now looking to capitalise on that momentum, build on our brand, while helping to create jobs and opportunities along the way."
MDS Healthcare provides medication through its wholesale and logistics business to around 100 care homes in the region from its specialist care homes hub in Clayton-le-Woods. It also operates two pharmacy operations in Preston and, through several alliances, runs a further two pharmacies.
The business employs 50 staff and has doubled its revenue from £4m in 2013 to £8m this year already. The purchase of the two new properties will allow MDS to take on another 15 staff in the next 12 months.
Ian Hardman, head of Yorkshire Bank’s Business and Private Banking Centre in Preston, said: "The continued success which MDS is enjoying reflects the commitment of Javid, his family and team, and represents all that is good about the entrepreneurial spirit of the North West’s business community.
"We're pleased to support the group’s latest expansion and are confident the purchase of the new pharmacies will pave the way for further growth opportunities in their specialist field."