G Square closes £500m single-asset continuation fund for Pharmacy2U

London, 7 July 2026

G Square Healthcare Private Equity LLP has announced the successful close of a £500 million single-asset continuation fund for Pharmacy2U, described by G Square as the UK’s largest online pharmacy.

The continuation fund was led by Coller Capital, alongside a syndicate of institutional investors. G Square Capital IV is co-investing in addition to the continuation fund, together with re-investing Pharmacy2U shareholders and continued commitments from the management team.

About Pharmacy2U

Founded in 1999, Pharmacy2U has developed a leading digital pharmacy platform serving more than two million patients and dispensing more than 3.5 million items per month. The business offers NHS and private health services, alongside consumer and pet health products.

G Square’s Impact

Since G Square’s investment in 2018, Pharmacy2U has grown substantially, supported by investment in proprietary technology, large-scale dispensing automation, expansion of its clinical and service offering, and a buy-and-build strategy including six acquisitions completed and integrated over the past 24 months.

Looking Ahead

The continuation fund provides capital to support Pharmacy2U’s next chapter, including continued M&A activity, further investment in technology and automation, and expansion of clinical services.

Executive Quotes

Oliver Hoenich, Partner at G Square, described Pharmacy2U as a category-defining business and said the transaction marked an important moment for G Square, reflecting the company’s development into a leading UK digital pharmacy platform.

Deirdre Burns, Executive Chair of Pharmacy2U, said the transaction represented a significant milestone for Pharmacy2U and a strong endorsement of the team, technology and future opportunity.

David Jolly, Partner at Coller Capital, said Pharmacy2U is a high-quality business at the forefront of UK digital healthcare, with strong fundamentals and further growth potential.

Mark Glatman, CEO of Abstract Securities Ltd, commented:

“This transaction has enabled Abstract Securities to successfully realise and conclude its investment in Pharmacy2U. We are very proud to have been involved in this company since just after its inception with this transaction valuing the company significantly in excess of £500m.”

Source: https://gsquarecapital.com/g-square-closes-500m-single-asset-continuation-fund-for-pharmacy2u/