SimplyMeds’s Equity Investment From IW Capital

Goodman Derrick advised high growth e-pharmacy SimplyMeds on the deal.

SimplyMeds – an end-to-end digital pharmacy platform that provides a convenient method of ordering same day prescriptions and lifestyle products – caters to both the private and NHS prescriptions market after the founders developed both the distribution channels and a highly sophisticated e-platform to serve both sectors effectively. The founding entrepreneurs, Dr Saranjit Sihra and Parvinder Sagoo, have grown the company organically over the last five years from a spare room in a surgery to a material player in London and the South East, with minimal marketing and no external investment.

Following IW Capital’s investment the company is targeting growth with projected revenue in excess of £6 million over the next 18 months. The funding will accelerate SimplyMeds’ development and advance its international market potential through an expansion of distribution channels and sales and marketing capability.

Goodman Derrick’s corporate law team was led by Dominic Prentis (Picture), Partner, and Richard Pull, Senior Associate, with assistance from? Hector Freyne, Trainee Solicitor.

Involved fees earner: Dominic Prentis – Goodman Derrick; Richard Pull – Goodman Derrick;

Law Firms: Goodman Derrick;

Clients: Simply Meds;

Author: Federica Tiefenthaler