Lloydspharmacy acquires Betterlife Healthcare

Leading community pharmacy Lloydspharmacy has acquired an 80% shareholding in Betterlife Healthcare, the UK’s largest online and mail order retailer of mobility and assisted living products. BCMS advised the shareholders of Betterlife on the transaction.

As reported at the time of the transaction in 2010, the acquisition enabled Lloydspharmacy to offer a wider range of devices for independent living, including mobility scooters, kitchen and bathing equipment, lifts and homecare products.

Deal commentary

Two of Betterlife Healthcare’s founding directors, Derek Abrahams and Grant Abrahams, stayed with Lloydspharmacy to offer the company’s range of products via the pharmacy’s website and through its network of pharmacies in the UK.

“We are delighted to be selling the Betterlife business to a strong healthcare brand such as Lloydspharmacy and look forward to working with our new partners to continue building the business and service offering,” said Derek Abrahams, Betterlife Healthcare Director.

Paul O’Hanlon, Lloydspharmacy Director, commented: “Lloydspharmacy has pioneered the provision of online pharmacy and healthcare services, including development of an online doctor service. Betterlife enables us to build this online offering and also take their products to a whole new customer base via our UK network of community pharmacies.”