Jason Yates is Managing Director of CST Pharma and no stranger to change management. He has worked in the business since 2006, acquiring the firm in 2018, when he implemented a new board and management structure. This change has allowed the firm to maintain its position as one of the UK’s top specialists in the import of branded pharmaceuticals, generic medicines, medical appliances, clinical dressings, diagnostics and more.
For this latest spurt of growth, Yates needed a financing partner to help drive the expansion. CST Pharma secured a £26m Asset-Based Lending Facility from HSBC UK to provide increased liquidity for the purchase of additional stock. The facility allowed the group to expand the team with 25 more hires, plus a further ten new employees in the coming months. The funding also helped the company to upgrade its IT systems and improve its quality management system, boosting operational efficiency.
“Since acquiring CST Pharma, we have been striving to grow the business. The support we received from HSBC UK has been invaluable in allowing the purchase of more stock, so we can meet this objective and develop the business to its full potential, as well as improving our systems to ensure the sustainability of the company,” said Yates.