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Industry leader launches RxBridge to redefine pharmacy finance market

Andy Harwood, co-founder of boutique advisory firm Pharmacy Seekers and experienced industry leader, has today announced the launch of a major new company, RxBridge, with substantial financial backing and technology infrastructure from Woodsford TradeBridge, the fast-growing supply chain finance specialists.

“Our mission at RxBridge is clear: it is to redefine pharmacy finance”, says Andy Harwood. “RxBridge is in a privileged position. We have the financial firepower, the infrastructure and the sector specialism to deliver, without question, the very best working capital solutions for the pharmacy sector. We are already seeing tremendous demand for our product and I am enormously excited to be leading this new company.”

RxBridge offers independent pharmacies unsecured revolving debt facilities based on their NHS payments. The facility will release approximately two months’ worth of NHS dispensing and can run alongside other banking and loan facilities. Pharmacies will be able to draw down cash immediately- or whenever they need it- and with a flat, transparent fee, pharmacists will never have to worry about hidden charges.

The versatile facility can be used for a number of purposes, including:
• Repaying Director Loans
• Pharmacy expansion
• Stock acquisition
• Expanding consultation or other services
• Repaying other loans and creditors
• Pharmacy improvement

“We feel very fortunate to be teaming up with Andy” says Mark Coxhead, CEO of Woodsford TradeBridge. “No-one understand the financial needs of pharmacies better than he does. Together we’re going to keep doing what Woodsford TradeBridge does best: providing flexible working capital designed to support growing UK companies.”

Andy Harwood will remain a Partner of Pharmacy Seekers, which will continue to deliver a full suite of pharmacy advisory services.
For further information on Woodsford TradeBridge, please visit www.woodsfordtradebridge.com