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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.

Pharmacy sales specialist, Hutchings Consultants has revealed its market predictions for the next 12 months in a new report. The broker is anticipating that both independent group operators and corporate owners will continue to reassess their existing portfolios in 2024, making strategic disposals of varying sizes. "This is likely to result in transaction volumes remaining high for the foreseeable future," stated the report authored by Paul Steet, Associate Director, Hutchings Consultants. Community Pharmacy Contractual Framework negotiations will be the most notable opportunity for the sector to capitalise upon this year, the broker said, adding that it's "a belated opportunity for the sector to secure a vital uplift to the contract's fixed global sum."