Expansion for pharmaceutical company The Raylane Group
PUBLISHED: 09:14 10 April 2017 | UPDATED: 09:14 10 April 2017
A West Midlands pharmaceutical business has expanded its network of pharmacies with funding from Barclays
A West Midlands pharmaceutical business has expanded its network of pharmacies with funding from Barclays.
The Raylane Group, which was established in 1991, is a successful community pharmacy chain based in the West Midlands with five branches and 20 staff. The business has now completed a £3 million share purchase of Gary Barber Pharmacies Ltd who have three branches in Cheltenham, Gloucestershire. As a result of the acquisition, total staff numbers will double and the business will manage around 70,000 prescriptions per month.
The company is owned by pharmacist Dinesh Patel who joined the profession in the 1980s.
In 1985, he acquired Hawne Pharmacy which he later incorporated into Raylane Limited as the business grew.
Commenting on the acquisition, Dinesh Patel, Director of the Raylane Group commented: “I am delighted that we have become the major shareholder in Gary Barber Pharmacies Ltd who have an excellent reputation locally. This acquisition supports my growth plans for the business and opens up new markets for us.”
Funding for the acquisition was provided by Barclays. Manoj Patel, Relationship Director for Barclays in Birmingham said: “Dinesh has demonstrated his expertise in industry and has steadily grown his business over the years. He continues to look for opportunities to expand both his chain of pharmacies but also the services on offer and we wish his every success for the future.”