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Medipharmacy has been bought out by PI-Gen Pharma Limited, an arm of the independent pharmacy group Enimed, for a total of £7.1 million, after the business entered into administration. In a report published on Companies House on January 30, administrators at FRP confirmed that the transaction was completed on 18 January, with PI-Gen beating five other bidders to acquire the insolvent NHS pharmacy chain. The report added that PI-Gen submitted a cash offer of non-refundable £500k for Medipharmacy's goodwill, £2.1m for its freehold properties, and a further amount for its fixtures and fittings, motor vehicles and stock. An FRP spokesperson told The Standard that Medipharmacy, which operated a chain of 25 NHS community pharmacies across London, Kent, Surrey and West Sussex, had faced increasing cashflow challenges in recent months. According to the administrators' report, Medipharmacy's revenues had grown exponentially from £27.9m in 2022 to £69m in 2023 but didn't deliver corresponding improvements in profitability.