Dozens of jobs saved as digital healthcare group Remedi Solutions bought from administration – and new owner Nadeem Sarwar says Cheshire business has 'significant growth potential'

Dozens of jobs have been saved after a health startup was bought from administration by a digital health entrepreneur who says it still has great growth potential.

Runcorn’s Remedi Solutions launched in 2020 to supply prescription medication through its technology platform to care homes across the country. In August, it handled the seventh highest number of prescription items of any business in England.

But the business began suffering from cash flow problems and Nick Harris and Lucinda Coleman, of PKF Francis Clark, were appointed administrators on Friday, December 6. They then sold the business to Remedi Healthcare Ltd, a new company founded by Nadeem Sarwar, founder of digital pharmacy and healthcare e-commerce group Phlo Technologies. That deal was backed with a financial package from Castlebridge Finance and Tallaght Financial and has saved 83 jobs.

Mr Sarwar said: “I’m delighted to have secured the future of Remedi’s workforce and the important services we provide to our valued customers. I would like to thank all our employees, customers and suppliers for their support during what has been a challenging period.

“Remedi has a top-class digital platform for pharmacy in care homes; we are planning significant investment in the platform alongside working with partners to allow the business to hit its full potential.

“Knowing the digital health and digital pharmacy industry extremely well, I see significant growth potential for Remedi Healthcare and I’m genuinely excited about the future.”

Nick Harris, director of business restructuring at PKF Francis Clark, said: “Remedi has a dedicated team delivering a vital service to care homes across the country, using its automated dispensing system. Unfortunately, the business had struggled to achieve the sales volumes needed to be profitable and was facing cash flow problems.

“We are delighted to have saved all 83 jobs, especially at this time of year. After initially being appointed by the directors to carry out an options review, we then ran an accelerated marketing process with support from Christie & Co and successfully negotiated the sale of the business in a tight timeframe.”

Lucinda Coleman from PKF Francis Clark added: “Administration is always a last resort, but we are pleased that in this case the business and assets have survived along with the jobs of so many skilled individuals.”

Tony Evans and Stephen Jacobs at Christie & Co assisted the administrators, alongside legal adviser Kevin Hawthorn at DAC Beachcroft. PKF Francis Clark’s team also included Dan Ott. Remedi Healthcare was advised by Alastair Dunn, from BTO Solicitors.