Cashflow helps pharmacy owner achieve his dream

J Anderson Ltd & Echo Healthcare Services Ltd

Community pharmacy group

Founded 2020

Entrepreneurial pharmacist Ram Parimi bought his first small pharmacy in Hastings, East Sussex, in 2020, but expansion was always his dream. After successfully growing his first business, he smartly acquired all three pharmacies operating in Waltham Abbey, Essex, in 2023, securing a prime growth opportunity and removing his competition at the same time.

Ram had scoured the UK to eventually find a small, dilapidated pharmacy that was within his budget in Hastings – a five-hour drive from his home in Hull, Yorkshire. But after paying for stock and a full refit, he realised he would need extra cashflow for at least six months until his NHS income covered his start-up costs. That’s when a fellow pharmacist recommended RxBridge.

Ram didn’t end up using the RxBridge facility until 2023, when he bought an independent in Waltham Abbey, specifically because he knew he could outperform his only local competitors - two Lloyds pharmacies. Just a few months later, the two Lloyds outlets were put up for sale. He could see their potential for growth, so he made an offer straightaway.

Moving quickly to make acquisitions can be stressful, particularly when dealing with corporates, but the RxBridge facility meant Ram didn’t have to worry about cashflow during the crucial first months of starting three businesses. Still on the expansion trail, Ram plans to buy six more pharmacies in the next four years and will use RxBridge for cashflow support.

The challenge

Ram’s dream was to expand his business steadily through acquisitions, but after buying his first pharmacy on a tight budget, he knew he would need extra working capital to help him achieve his ambitions. A bank loan covered his second acquisition, but would not give his new business the cashflow to survive until his NHS income could cover his start-up costs

Ram needed a different kind of lender who understood his business and could offer a straightforward cashflow solution. When a colleague suggested RxBridge, Ram was unsure at first, but once his dedicated expert had answered all his questions, he could see the advantage of a flexible facility that’s always available and only incurs fees when he uses it.

As experienced specialists in the sector, we’ve designed a straightforward finance facility specifically for pharmacies, based on your NHS income. We offer more funding than other lenders (up to four times your monthly NHS receipts), transparent fees and a streamlined application – so you get a decision and a funding limit within days, not months.

This meant we could quickly offer Ram a revolving line of credit to cover the crucial start-up period for his new pharmacies. With immediate drawdowns from our simple online portal and a dedicated expert always on hand, he could be confident that he had enough cashflow to pay for anything – stock orders, staff wages, shop refits or any unexpected costs.