Yakub Chemist prescribed £350,000 funding
A Leicester-based pharmacy chain has bought new premises after securing a six-figure loan from Lloyds TSB Commercial. Yakub Chemist has tripled its space and said it expects to take on nine new members of staff.
The chemist said the £350,000 mortgage provided by the bank's healthcare banking team will help it to continue its expansion and "focus on new ways of delivering medication".
The business provides an online pharmacy, a private patient home delivery service and a care home medication management service.
Yakub Chemist's new 3,000 sq ft premises are located in Hamilton Office Park. The park gives the chemist facilities to provide free training for care home staff on site.
Currently employing 21 people, the business said it expects headcount to rise to 30 by the end of 2011.
Mohammed Yasin, business development manager at Yakub Chemist, said: "The last year has been our strongest yet following the launch of our wholesale division, also with backing from Lloyds TSB Commercial, which was key to us doubling our turnover. We are looking to build on this success by revolutionising the way care homes receive services from pharmacies.
"The new 3,000 sq ft, two-storey premises are located in a newly developed commercial area and provide us with the space that we need to expand our service provision."
