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Following a period of prolonged uncertainty, the Competition and Markets Authority has given its approval to Bestway Healthcare's acquisition of Lexon UK and Asurex. The company expects the transactions to be finalised in the upcoming months. In April, Bestway, the owner of Well Pharmacy, acquired Asurex Limited and Lexon UK Holdings, along with the 44-community pharmacy chain Norchem Group, known as Knights Pharmacy. However, in June, the CMA raised competition-related concerns about the transaction, citing worries that the acquisition could lead to a significant decrease in competition among retail pharmacies across 12 areas in Liverpool and the northeastern region of England. The CMA had asked undertakings from Bestway Healthcare due to competition concerns affecting specific branches of Knights Pharmacy within the acquisition. In July, the CMA indicated its readiness to approve the deal, contingent upon Bestway's completion of the required divestments. According to Bestway Healthcare, This matter has been successfully resolved, as Bestway Healthcare has consented to the sale of seven pharmacies in Liverpool and the northeastern region of England. "The impacted Well pharmacies are situated in Seaham, Bishop Auckland, Kenton, High Howden, Stockton, Moreton, and Pensby. Buyers for all seven branches have been identified and contracts have been signed."

The Competition and Markets Authority (CMA) has announced on Tuesday (20 June) that it may consider undertakings offered by Bestway Panacea Holdings, a parent company of Well Pharmacy, which involves divesting seven pharmacy stores under the merger deal with Lexon UK. The Authority said: "CMA considers that there are reasonable grounds for believing that the undertakings offered by Bestway, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002." Last week, the Authority had announced that the merger of Bestway, and independent pharmacy owner Lexon UK could "lessen the competition between retail pharmacies" in England. On 26th May 2023, CMA announced the launch of its merger inquiry. A fast-track Phase 1 investigation found that the merger could lead to a significant lessening of competition between retail pharmacies in 12 local areas located in Liverpool and North East England. The merging businesses conceded that the deal raises competition concerns in these areas and have submitted proposals to sell pharmacies within these areas to restore the competition that would otherwise be lost as a result of the deal.

Bestway operates approximately 750 pharmacies nationwide in the UK under the Well brand. In April 2023, it completed its acquisition of Lexon, which operates 46 pharmacies in the UK under the Knights Pharmacy brand, and Asurex, a wholesale perfume supplier. On 26th May 2023, CMA announced the launch of its merger inquiry. A fast-track Phase 1 investigation found that the merger could lead to a significant lessening of competition between retail pharmacies in 12 local areas located in Liverpool and North East England. The merging businesses conceded that the deal raises competition concerns in these areas and have submitted proposals to sell pharmacies within these areas to restore the competition that would otherwise be lost as a result of the deal. Colin Raftery, CMA Senior Director of Mergers, said: "Pharmacies are essential public health services, and it's vital that the loss of competition brought about by a deal like this shouldn't leave people with reduced choice or worse services when they need medical support. The CMA will now carefully consider whether the remedy put forward by Bestway will address its concerns and ensure that customers in the affected areas continue to have access to good quality chemists.

Bestway Healthcare has appointed Jeremy Meader as its new chief wholesale officer, following the retirement of Anup Sodha. Meader would join the company in mid-November but is expected to officially assume his responsibilities from January 2, 2024. He will lead Lexon, Bestway Medhub, Wardle's, Knights Fragrances, PI & Specials manufacturing and the wholesale supply chain. Sodha, who co-founded the business 25 years ago, will continue to lead the company's wholesale business unit until 31 December 2023. Commenting on his retirement, Sodhi said: "I am proud of what we achieved at Lexon, it has been a team effort and I am grateful to everyone who has helped as we built a strong wholesale business.

Well Pharmacy has announced the acquisition of Lexon UK Holdings and Asurex Limited, a family-owned pharmaceutical wholesaler with five depots in Redditch, Leeds, Durham, East Kilbride and Dublin and a network of community pharmacies across the Midlands, Northwest, and Northeast of England. Lexon, is a family-owned business which has been in operation for over 25 years, running primarily as a pharmaceutical wholesaler for 3,000 retail pharmacy customers across the UK and Ireland. The business also operates 42 community pharmacies - currently trading as Knights Pharmacy - and is also a specialist developer and manufacturer of generic pharmaceuticals and is a data and solutions provider to pharmacy. The acquisition will be notified to the Competition and Markets Authority (CMA). Both parties have proactively engaged with the CMA in pre-notification discussions and look forward to continuing to do so productively during the CMA review period. Haider Choudrey, CFO of Bestway Group which own Well Pharmacy, said: "Through this acquisition we seek to augment our growth momentum and bring in even greater benefits to both community pharmacies and patients. Well Pharmacy had been searching for a target to expand its footprint and complement its growth trajectory and we are confident that Lexon fits this criterion."

Despite being relatively new to the dispensing doctor market as a short-liner, Bestway Medhub is seeing exponential growth in the market in addition to the 3,500 independent pharmacies that we service and deliver to. We have however been servicing the dispensing doctor market for well over 40 years through our dispensing appliance contractor (DAC) Wardles. Wardles service and supply more than 55% of all dispensing sites with dressings, bandages, appliances, ostomy, wound care and hosiery. Graham Burford-Row To meet the needs of dispensing practices and surgeries we carry a large range of more than 10,000 Generics, PI's and OTC products. We offer net pricing so the practice can see straight away what price they are paying for their products - with no hidden fees. We offer all our practices 24-hour online ordering via our Bestway Medhub ordering portal and our recently launched Wardles FP Portal. Additionally, we have the backup of a telesales department with personal service from myself and a dedicated Internal Dispensing Dr Account Manager. We offer daily, weekly or monthly calls to those customers wishing to hear our special offers. Our deliveries are done daily via our third party full-line logistics partner for efficient deliveries, which no other short-line wholesaler offers. Bestway Medhub understands that dispensing practices are not only in the business of offering superior care to their patients and community, but they also offer numerous other services like clinics, nursing and referrals. By enabling practices to cost save, the funds could be used elsewhere instead.

Well Pharmacy's parent company, Bestway Group, announced on Wednesday (20 March) that it recorded a five per cent growth in revenues to £4.74 billion for the year ending June 2023, alongside a pre-tax profit of £420.9 million. During the year, the company also completed acquisition of Lexon UK Holdings, a leading pharmaceutical wholesaler serving over 3,000 retail pharmacy customers across the UK and Eire. Furthermore, the Group completed the construction of two cement plants in Pakistan, bringing its total cement manufacturing capacity to 15.3 million tonnes per annum. Sir Anwar Pervez OBE, founder and chairman of Bestway Group, expressed optimism about the new business year and said: "The Group has continued on its growth trajectory in 2023 and we are confident that our businesses will continue to gain share within their respective markets during 2024."

Well Pharmacy, a subsidiary company of Bestway Group is donating US$400,000 worth of medicines to help the victims of those impacted by the recent flooding in Pakistan. The Bestway Group has raised funds to the tune of $2.3 million, which will be deployed urgently on the ground in Pakistan. The monies raised has been pledged to build homes (or shelters) for 5,000 families, provide usable water for more than 100,000 individuals and provide food and medical supplies to over 20,000 people. In addition to appealing for donations, the Group held a fund-raising event (23 September) at London's Intercontinental on Park Lane, which was attended by over 650 guests including the Lord Chancellor, the Deputy State Bank of Pakistan, UK Cabinet Ministers, and Members of Parliament in addition to leading City' figures and business community. The Lord Chancellor Rt Hon Brandon Lewis MP said that the British Government has committed funds of £16.5 million for Pakistan and we are dealing with wider climate change issues as well and we are committing to that effort.