PHARMACY business Norchem has started a new company as part of a diversification drive to stay one step ahead in its changing marketplace.

The County Durham firm, which has a turnover of around £33m and employs 250 people, has launched Norchem Services, to provide out-sourced services such as human resources and payroll for independent pharmacies across the North East.

The business also has a pharmaceutical wholesale wing and runs 21 of its own pharmacy shops across the region.

Norchem chief executive Peter Batty, who has just marked his first anniversary with the Ferryhill business, said: “Really it’s a very niche business aimed at specialist management services to independent pharmacies in the North East.

“It’s got off to a very good start, we’ve got five or six customers in two weeks. We know all our potential customers because we already work with them.

“We’ve got plans to continue to look at new businesses, whether that is looking at new markets or new opportunities.

“If you are solely reliant on one product, one business, you can be at risk. The aim for us is to create a group of related healthcare businesses that all operate in their own marketplaces.”