Clearwater International advises LDC on its investment in Ashtons Hospital Pharmacy Services
Clearwater International advised private equity investor LDC on its investment in Ashtons Hospital Pharmacy Services (Ashtons), which will enable the existing management team to drive organic growth, further develop its software services and ” expand its pharmaceutical warehousing and distribution infrastructure.
In association with the transaction, the Clearwater International Debt Advisory team advised LDC in raising acquisition funds from Silicon Valley Bank (SVB).
Based in Brighton, Ashtons provides medication management solutions to the UK independent healthcare industry and its services include clinical pharmacy support and medication delivery.
Through its nationwide network of specialist clinical pharmacists and bespoke software technology, Ashtons services help clients comply with healthcare regulations, professional requirements and medication management best practices. .
Over the past three years, Ashtons revenue has grown 70% to € 21.4million (£ 18.7million) in 2019, and the company currently employs 90 people. LDC’s investment will support the company’s organic growth strategy, as it continues to develop its infrastructure and distribution network and improve its technology platform.
The Clearwater International team consisted of Partner and International Director of Business Services Marcus Archer, Director and International Director of Healthcare Ramesh Jassal, Associate Director Will Arnold and Executive Director Carly Sinicrope. Debt advisory support was provided by Partner Chris Smith and Director Lachlan Dorrity.
Christian Bruning, Director of LDC, said: “Yachna and her team at Ashtons have built a thriving business model with a loyal customer base and the potential to expand into new markets. With over 20 years of experience each, the management team has a deep understanding of the industry and a clear appreciation for the role technology and software play in improving the services they provide. We look forward to supporting the team in the next step of their growth journey. “
Yachna Tak, CEO of Ashtons, said, “We have developed a market leading proposition so that our customers can better support their patients through our outsourced pharmacy service and bespoke software solutions. LDC’s investment and support will help us to further improve our proposition, enabling our clients to maintain best practices and professional standards in medication management and the highest quality of patient care.