Macdonald Henderson Solicitors

You are in: HomeNews › Macdonald Henderson advises Target Healthcare on seven-figure HSBC funding – 21st October 2019

Macdonald Henderson advises Target Healthcare on seven-figure HSBC funding  – 21st October 2019 - Click for larger version Macdonald Henderson advises Target Healthcare on seven-figure HSBC funding – 21st October 2019

Macdonald Henderson has advised East Kilbride-based pharmaceutical wholesaler Target Healthcare Group on its seven-figure funding package from HSBC UK (led by relationship director Grant Bett).

The firm use the funding 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.

Lewis Campbell, managing director at Target Healthcare Group, said: “We have the opportunity to grow massively in the domestic market and HSBC UK’s funding has put us in a strong position to seek new opportunities and attract new customers.

The financial support is also enabling us to look further afield and expand our export work, offering specialist products from the UK to customers abroad.”

About Macdonald Henderson, Mr Campbell commented “We were delighted with the service provided by Fraser (Morrison), Colm (Kerr) and the rest of the Macdonald Henderson team and look forward to working with them further as our business grows”.

Last updated: 3.06pm, Monday 21st October 2019

Latest News and Events

Macdonald Henderson client, Provan Sports Limited, trading as Pitch Teamwear, a sports retail and teamwear supplier based in Hillington has had success in obtaining loan funds via the Coronavirus Business Interruption Loan Scheme.
What is Business Interruption Insurance (“BII”)? BII is designed to cover businesses against losses of profit in the event of certain circumstances.

Meet the Team at Macdonald Henderson