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Knights Pharmacy has acquired 24 pharmacies in South Wales “that may otherwise have closed,” growing its footprint from 54 to 78 branches.

All 240 staff members from the acquired pharmacies have been kept on, with lender HSBC saying the acquisition will help “prevent pharmacy closures and disruption to services while maintaining continuity of care”. 

The bank said it had financed the acquisition with an eight-figure loan, which will also be used to refurbish existing pharmacies in England and Wales.

HSBC said: “Alongside this, the funding has allowed the group to expand its access to independent prescribers across the region, with more than 26 now working across Knights’ Welsh branches.”  

The company, named in the Financial Times’ 2027 list of fastest growing companies, posted a £1.6m profit in its most recent accounts, which cover the 12 months to May 2025.

Knights Pharmacy managing director Anand Sodha said: “This growth reflects the hard work of our team, achieved despite underfunding in community pharmacy – a problem we and trade bodies including Community Pharmacy Wales, Community Pharmacy England and the Independent Pharmacies Association continue to flag.

“We've worked hard to acquire, keep open, and invest into several pharmacies, many in the Welsh Valleys, that may otherwise have closed.

“We now dispense over 10 million items a year to more than 500,000 patients and remain proud to serve our communities.”

HSBC UK’s Amit Kattri commented: “Independent pharmacy groups are playing an increasingly vital role in the UK’s healthcare system, delivering essential services in their communities while helping to ease pressure on the NHS.

“Knights Pharmacy is a strong example of what ambitious businesses providing critical public services can achieve with the right support.”