Ashtons Hospital Pharmacy Services, a Brighton, UK-based pharmacy services provider, secured an undisclosed investment from LDC.
The amount of the deal was not disclosed.
The company intends to use the funds to drive organic growth, further develop its software services, and expand its pharmaceutical warehousing and distribution infrastructure.
Ashtons provides medicine management solutions to the UK independent healthcare sector and its services include clinical pharmacy support and the supply of medication. Through its nationwide network of specialist clinical pharmacists and bespoke software technology, Ashtons’ services help clients to comply with healthcare regulations, professional and best practice requirements regarding medicine management. In the last three years, Ashtons’ revenues have increased by 70 per cent to reach £18.7million in 2019, and the company currently employs 90 staff.
LDC is backing the business’ management team of Chief Executive Officer Yachna Tak, Chief Pharmacist Martin England, and Financial Director Keith Hersee. The deal also marks an exit for the Founder Laurence Sprey.
The investment was led by LDC Director Christian Bruning and Investment Director Joe Tager, who will both join the board. As part of the deal, software specialist Mark Goddard, joins as Chairman.
Banking facilities were provided by Silicon Valley Bank.