Macdonald Henderson advises pharmaceutical wholesaler on seven-figure funding package
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Fraser Morrison
Glasgow firm Macdonald Henderson recently advised East Kilbride-based pharmaceutical wholesaler Target Healthcare Group on a seven-figure funding package from HSBC UK.
The firm is using the funding package, led by HSBC relationship director Grant Bett, to boost its domestic and international business and increase its staff.
The group aims to double its imports of specialist medicinal products over the next year and increase the number of UK products it ships overseas using the bank’s funding, which includes an invoice finance facility as well as trade finance loans.
To support the growth, Target Healthcare Group is recruiting an additional 15 employees, including ten new jobs in sales, marketing and logistics, as well as up to five pharmacists.
Increased import capacity will also help the group stockpile certain medicines ahead of the Brexit deadline at the end of the month.
Macdonald Henderson’s director Fraser Morrison and corporate solicitor Colm Kerr advised the firm on the funding deal.
Lewis Campbell, managing director at Target Healthcare Group, said: “We were delighted with the service provided by Fraser, Colm and the rest of the Macdonald Henderson team and look forward to working with them further as our business grows.”
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