Remedi Solutions - Administration

Remedi Solutions, a Cheshire-headquartered supplier of prescription medication via a technology platform to care homes across the country, was purchased out of administration by Remedi Healthcare, a new company founded by experienced digital health entrepreneur Nadeem Sarwar, the founder of digital pharmacy and healthcare e-commerce group Phlo Technologies.

Nick Harris and Lucinda Coleman of PKF Francis Clark were appointed joint administrators of Remedi Solutions on 6 December after the company struggled to achieve the sales volumes needed to be profitable and faced cash flow problems.

The administrators were initially appointed by the directors to carry out an options review and then ran an accelerated marketing process with support from Christie & Co and successfully negotiated the sale of the business in a tight timeframe. They swiftly sold the business following their appointment, saving 83 jobs. The deal was backed with a financial package from Castlebridge Finance and Tallaght Financial.

The administrators were assisted by Tony Evans and Stephen Jacobs at Christie & Co, as well as 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.

Castlebridge and Fse Meif LP, acting by its General Partner Fse Meif GP Ltd, have registered charges against the company.