For more information on RM Community Healthcare – Pharmacy strategy, please contact:
James Satterthwaite
Head of Distribution
+44 (0) 131 603 7068
email James
James Robson
Chief Investment Officer
+44 (0) 131 603 7069
email James
We believe UK community pharmacy is entering a period of significant transformation. An ageing population, growing demand for primary care and the continued shift of healthcare services from hospitals into local communities are creating long-term opportunities for well-managed pharmacy businesses.
Our Investment Strategy:
Our strategy is to build a high-quality portfolio of community pharmacies that deliver exceptional patient care while benefiting from the operational advantages of scale. We seek to acquire established pharmacies with strong local relationships, resilient NHS income and opportunities to enhance performance through investment, technology and operational excellence.
By working closely with pharmacy teams, we aim to improve efficiency, broaden clinical services and invest in our people, enabling each pharmacy to meet the evolving healthcare needs of its community. Our disciplined acquisition approach focuses on sustainable growth rather than short-term financial engineering, creating long-term value for patients, employees and investors alike.
We believe that independent community pharmacies will continue to play a vital role within the NHS. By combining experienced management, prudent financing and a commitment to clinical excellence, our objective is to create one of the UK’s leading community pharmacy groups while delivering attractive, risk-adjusted returns for our investors.
Seed Portfolio:

Seed Portfolio Opportunity
Our seed portfolio comprises a network of established community pharmacies located in a geographic area in the north England, providing a strong foundation for our buy-and-build strategy.
The portfolio generates resilient, recurring income from NHS and private healthcare services, supported by experienced local teams and loyal customer bases.
Acquiring this initial platform provides immediate operational scale, diversified cash flows and opportunities to enhance performance through centralised procurement, technology and operational best practice. The seed portfolio is intended to act as the cornerstone of a broader consolidation strategy, creating a scalable, high-quality pharmacy group positioned to benefit from increasing demand for community healthcare services and long-term sector growth.
Fundraising
RM is currently undertaking a fundraising process to acquire the multiple pharmacy seed portfolio and establish the platform for its long-term consolidation strategy. The capital raise will be conducted throughout August and September 2026 and is open to eligible investors. The strategy targets net investor returns in excess of 18% per annum through a combination of operational value creation, disciplined acquisitions and prudent use of leverage. The seed portfolio provides investors with immediate exposure to a diversified, cash-generative platform positioned to benefit from the growing demand for community healthcare services across the UK.
James Satterthwaite
Head of Distribution
James has been working at RM since 2010, and heads up the firms distribution function. Having significant experience in the fixed income and credit space, James is ideally suited to understand the needs of the income investor.
Previous to this James worked at Barclays Capital, serving institutional fixed income investors with access to primary and secondary market investment opportunities.
David Watts
Fund Distribution
David is responsible for introducing the RM Funds products to institutional investors with a focus on the IFA network. Previous to this, David has had extensive experience in working with the origination team to source high quality opportunities requiring debt funding so has a keen understanding of the debt investments within RM Secured. He has 4 years of Corporate Tax Experience with HMRC and 2 years of relationship management, currency and debt product experience with RM Capital. David holds a degree with honours in English Literature and Journalism.