INDEPENDENT chemist business Raimes Clark and Company has secured £8.5 million bank funding, which will give it firepower for acquisitions.
The Edinburgh-based company said it will draw on the funding from HSBC to invest in its Lindsay & Gilmour chain at what it described as an exciting time for the pharmacy sector.
Chairman Nigel Cumming noted pharmacists are being encouraged to offer an increasing range of services under the official drive to transfer work from hospitals into community settings.
Lindsay & Gilmour's activities include providing minor ailment services and helping people give up smoking. The business operates 27 branches in eastern Scotland and the Borders.
Mr Cumming said the number of people using its services has been increasing in spite of competition from the likes of Boots.
He said the company wants to expand. Noting the restrictions placed on opening new pharmacies, Mr Cumming said the company would be interested in acquiring other practices.
"We are always looking and would welcome enquiries from people that wanted to sell," he said.
The company enjoyed another profitable year in 2014 as the economic recovery continued. Mr Cumming said it maintained its financial performance compared with 2013, when the firm made £1.4m pre-tax profit on sales of £25.8m.
The company employs over 240 staff. The weekly average of employees in 2013 was 187.
The original Lindsay & Gilmour was set up in the 19th century and has been trading from its Elm Row site in Edinburgh since 1826 with the young Charles Darwin said to have been a customer.
HSBC has replaced Clydesdale Bank as Raimes Clark and Company's main banker.
Kenny White, HSBC Relationship Director of Mid-Market Enterprise in Scotland said: "Lindsay & Gilmour is a long-standing and ambitious business, with a strong management team."
He added: "We have a strong appetite to support the growth of businesses like Lindsay & Gilmour."
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