A hedge fund based in Bolton has made a significant investment in a healthcare company.

Pitalia Capital, based on Chorley New Road, has invested into JCCO Healthcare, which owns companies such as online pharmacy Chemist4U and weight management platform myBMI.

The firm has invested £12m into the company, with managing partner of Pitalia, John Davies, set to join the board following the investment.

James O’Loan, chief executive officer of both Chemist4U and myBMI, said the funding would "turbo charge" growth.

He said: “Our plan is for Chemist4U to become one of the biggest NHS dispensing facilities in the country as well as support partners with our outsourced dispensing services which is our fastest growing division.

“We’ve had plenty of investor interest but because we were profitable we didn’t feel the need to rush.

“Anil was assisting us with acquiring the property in Skelmersdale and wanted to get on board as an investor to turbocharge the growth.

“As soon as I met Anil I really connected with him. He’s a healthcare professional like myself and he has already been hugely successful with SpaMedica.” 

Anil Pitalia, head of Pitalia, added: “James and Ricardo have done an incredible job and are a very entrepreneurial and innovative team. 

“They’ve really embraced technology.

"To be able to get your medication delivered to your doorstep the next day without having to go to another pharmacy is hugely convenient and efficient. We see huge growth potential.

“In terms of myBMI, they are already leaders in this field and it’s an area where they see they can add a lot of value, particularly on the NHS side when trying to tackle the obesity crisis.”