The deal, which was for an undisclosed sum, will give Lloydspharmacy an 80 per cent shareholding in the company.
Lancashire-based Betterlife is an internet and mail order retailer of independent living and mobility products. Established in 2005, the company sells a range of over 5,000 products including mobility scooters and bathing hoists.
Upon completion of the deal Betterlife will retain and trade through its existing brand and website, but a new sub-brand is to be introduced for mail order customers.
Paul O’Hanlon, Lloydspharmacy director, comments: ‘Betterlife Healthcare is an excellent strategic fit with Lloydspharmacy that will enable us to offer customers of both companies access to a much wider range of healthcare products.’
Lloydspharmacy is a pharmaceuticals and healthcare provider with a network of over 1,650 pharmacies across the UK. Lloydspharmacy will stock Betterlife catalogues and a selected product range in its pharmacies.
Betterlife Healthcare’s founding directors, Derek Abrahams and Grant Abrahams, will remain with the company.