Ashtons Hospital Pharmacy Services secures investment from LDC

Ashtons Hospital Pharmacy Servicesa pharmaceutical services provider based in Brighton, UK, has secured an undisclosed investment from LDC.

The amount of the transaction 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 medication management solutions to the UK independent healthcare sector and its services include clinical pharmacy support and medication supply. Through its nationwide network of specialist clinical pharmacists and bespoke software technology, Ashtons’ services help customers comply with healthcare regulations, professional requirements and medication management best practices. Over the past three years, Ashtons’ revenues have grown by 70% to £18.7million in 2019, and the company currently employs 90 people.

LDC supports the company’s leadership team consisting of CEO Yachna Tak, Chief Pharmacist Martin England and Chief Financial Officer Keith Hersee. The deal also marks an exit for founder Laurence Sprey.

The investment was led by LDC director Christian Bruning and chief investment officer 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.

EndSME

03/20/2020

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