Supporting British businesses

Our SME Lending team supported John Paul Mackie from Mackie Pharmacy, a small group of seven NHS pharmacies located in the Glasgow area.

We provided a £300,000 finance package to Mackie Pharmacy (JP Mackie & Co Ltd) to fund a robotic dispenser and six prescription dispensing machines.

As a result of the new cutting-edge technology, John-Paul Mackie has been crowned Pharmacist of the Year at the prestigious annual Independent Pharmacy Awards at Westminster.

This technology allows immediate cost efficiency savings thanks to reduced labour costs. It also reduces errors and improves precision in terms of monitoring stockholding data, reducing the costs associated to redundant stock. This will improve patient experience by freeing staff from drug preparation duties, allowing greater time to be spent on consultations and service provision.

We wouldn’t hesitate to work with Paragon again.

How we helped

John Paul Mackie, owner of JP Mackie, said: “This new cutting-edge technology is a real step-change in the way customers access their prescriptions and has been particularly beneficial during the pandemic, reducing the amount of in-person contact required for customers to be able to access needed medication. This led to us being recognised through a prestigious industry award, which is reflective of the impact of this equipment.

“The pharmacy industry has its own set of unique challenges when it comes to securing funding, so it was fantastic to see that Paragon was committed to truly understanding our business model and facilitate this deal. We wouldn’t hesitate to work with Paragon again.”

Fraser Tilley, Business Development Manager at Paragon Bank, said: “Taking the time to fully appreciate our customers’ financial structure, business model and future investment plans has ensured Paragon remains well positioned to support them in their long-term strategy.

“Our sector knowledge and understanding of hidden balance sheet value, typically associated to NHS dispensing licences, facilitates our risk appetite to assist operators within this key frontline health service function.

“It was a privilege to assist an innovative and award-winning business such as Mackie Pharmacy as they strive to improve patient experience and elevate in-house efficiency, particularly considering the backdrop of a national pandemic.” 

Find out more about how we can support your business on our Asset Finance page.