Alliance Boots will establish a new business hub for start-up businesses in the pharmaceutical and healthcare sector at its Nottinghamshire base.
The retailer and pharmaceutical wholesaler has collaborated with BioCity, a specialist in creating science business hubs, to establish the new health and wellness business centre, Medicity, at its Nottingham Enterprise Zone in Beeston.
A significant part of Alliance Boots’ research, development and manufacturing operations are based at the Nottinghamshire site.
Biocity, the new subsidiary of MediCity, will provide start-up business in the health and wellness sector with office and laboratory space. In addition, the businesses will benefit from Alliance Boots’ expertise in healthcare, product development and the supply chain.
Alliance Boots chief executive of health and beauty Alex Gourlay said: “Alliance Boots and BioCity’s complementary expertise will attract businesses to MediCity and further enhance our existing world-class innovation hub in Nottingham. Today’s news illustrates our progress in developing the site, as well as our continued commitment to Nottingham and the wider UK economy.”
Last week in its full-year results, Alliance Boots recorded a 6.1% increase in trading profit to £1.27bn despite a 2.6% fall in revenue to £22.4bn.