Group items matching

in title, tags, annotations or url

In just three days, three well-established pharmacies were sold in Essex -Dips Chemist and Riverview Pharmacy in Grays, and Longfield Pharmacy in Maldon. According to specialist business property adviser Christie and Co, Dips Chemist and Riverview Pharmacy were included in a wider portfolio sale following their entry into administration in 2023. Both pharmacies, which collectively dispense an average of circa 14,000 items per month, have been acquired by Primary Health Solutions Ltd, an independent pharmacy operator led by Husain Master. "These two pharmacies are the perfect addition to my existing portfolio," said Master, who plans to increase the services offered as well as invest in the pharmacies to create a more clinical and welcoming environment. Mark Page, director - Pharmacy at Christie and Co, highlighted that there's an appetite for a full range of pharmacies in Essex and the Northern Home Counties, with many buyers looking to take on well-performing pharmacies or purchase a quieter pharmacy that can be improved.

Raylane Pharmacy Group has expanded its portfolio by acquiring Evans Pharmacy in Worcestershire. With this new addition, the independent community pharmacy chain has increased its total number of branches to 10. Located in the centre of Malvern Link in Worcestershire, Evans Pharmacy dispenses approximately 10,000 items per month. The acquisition follows the retirement of the previous owner, Philip Hawkes, who had managed the business for over a decade. The sale was facilitated by Christie and Co through a confidential process, and the transaction price remains undisclosed. Commenting on the deal, Carl Steer, director-pharmacy at Christie and Co, said: "The sale represents a perfect addition to an already successful group for Raylane Ltd. "The instruction proved popular, and the completion represents another sale for Christie and Co in a record year for pharmacy sales."

O'Briens Pharmacy Group has sold Bispham Pharmacy as part of a strategic review of its nine-site portfolio, now reduced to eight, across the Fylde coast region. Christie and Co, the property adviser, recently announced that the group's popular Blackpool pharmacy business has been acquired by first-time buyer, Arif Bhuriya. Bispham Pharmacy, which dispenses around 4,500 items per month, is situated in the heart of Bispham's commercial centre, opposite a bustling shopping area. The community pharmacy has been in this location since February 2021, following a minor contract relocation. O'Briens Pharmacy Group provides pharmacy services across Fleetwood, Thornton-Cleveleys, Bispham, Burscough, Liverpool, and surrounding areas. Aisling O'Brien, owner of O'Briens Pharmacy, explained the rationale behind selling the Bispham site: "When we had a strategic review of our group, we saw Bispham as an ideal site to dispose of, knowing it would fare much better in the current climate as an owner-operated site.

Christie & Co, a specialist business property adviser, recently finalised the sale of two pharmacies-one located in Wales and the other in Hampshire. Sylvia Williams Chemist, a well-performing community pharmacy located on the main high street of the Vale of Glamorgan market town of Cowbridge, has been sold after an impressive 50 years of ownership. Dispensing an average of 12,500 items monthly, the business has been owned by Kate Thomas and her family for nearly 50 years. It was put on the market to enable her retirement and allow her to focus on other interests, the broker said. The pharmacy has been purchased by Zaid Salih, making it his second pharmacy acquisition. Jonathan Board, Director - Medical at Christie & Co, who handled the sale, said that Sylvia Williams Chemist attracted a wide range of buyers.

Staveley Pharmacy, a well-established community pharmacy located in the picturesque village of Kendal within the Lake District, has undergone a change in ownership. The family-run business led by a husband-and-wife team has been acquired by brothers Mohammad Waqas and Khuram Shazad, taking the helm as first-time buyers, according to Hutchings Consultants. Known for its strong counter trade and deep community ties, the pharmacy has been nurtured and managed by the previous owners with a profound dedication to the local community. Over the years, they have developed the business into a trusted local institution. Paul Steet, Associate Director of Hutchings who managed the sale, reflected on the transition, noting the longstanding relationship with the sellers. "Having worked with the previous owners since 2015 when they initially contacted Hutchings Consultants to discuss a valuation of the business, I feel personally connected to this pharmacy. I am delighted that Mohammad and Khuram will be taking over the reins," he said.

Armstrong's Pharmacy in Sheffield, South Yorkshire has been sold for the first time in 67 years for an undisclosed price. Located on the corner of Gleadless Road, three miles south-west of Sheffield City Centre, the pharmacy dispenses an average of 11,332 items per month, according to Christie and Co, the broker that facilitated the sale. Owned and operated by the Armstrong family since 1957, the business has been acquired by a husband-and-wife team of first-time buyers. The new owners, whose identities were not disclosed, plan to expand the pharmacy by adding more consultation rooms and increasing services offered to the local community. Chris Armstrong, the previous owner, ran the business with his wife Jane before deciding to sell in preparation for their retirement. Commenting on the sale, Chris said: "It was a big decision to sell our multigenerational business but, when it was time to retire, we were glad that Christie and Co were able to quickly market the business successfully."

The pharmacy market in England has seen a significant transformation in recent years, driven by a trend of large-scale disposals by corporate operators. Jonathan Board, Director - Pharmacy, Christie & Co, has told Pharmacy Business that several corporate operators are looking to sell off their marginal or non-performing assets while independent operators are eager to acquire and enhance businesses further. Due to their scale, corporate operators are compelled to adopt a 'one size fits all' approach. However, Jonathan believes this puts them at a disadvantage compared to many independent operators who are better positioned to meet local patient and community needs, delivering a more personalised approach to patient engagement, and a variety of other services "As such, where corporate disposals have taken place, there has been a steady stream of independent operators eager to take over and develop the businesses further," he said.

Summersdale Pharmacy, originally established by local doctors at Lavant Road Surgery, has been sold for an undisclosed amount. Located just outside Chichester town centre and attached to the local GP surgery, the pharmacy dispenses around 10,000 items per month. Following the retirement of some doctors, the remaining GPs decided to sell the pharmacy, with specialist business property adviser Christie and Co handling the transaction. The pharmacy has been acquired by experienced multiple operators Mohamed Amiralli and Kardo Ali through a joint venture. Ali highlighted their intention to build upon the strong foundations laid by the previous owners. He noted that the pharmacy's close relationship with the local GP surgery presents "a unique opportunity to provide even greater care and service to the community."

Alliance Healthcare UK has appointed Paula Sutherland as sales director to lead its sales teams in delivering products and services to community pharmacies. In her new role, Paula will focus on ensuring that the company's offerings align with the unique needs of pharmacies and their patients. Since joining Alliance Healthcare in 2012, Paula has held various leadership roles that have focused on building strong relationships with community pharmacies, manufacturer partners, and hospital services. Her extensive experience is expected to further strengthen the company's partnerships with community pharmacies. Before joining Alliance Healthcare, Paula gained valuable experience in commercial roles within the fast-moving consumer goods sector, at companies such as Perrigo UK and global supply-chain logistics company CHEP.

Community pharmacies, like any business, face financial challenges, and one significant concern is managing cash flow. Your business requires cash flow to pay for stock, suppliers, operational costs, taxes and service bank debts and these need to be matched with cash inflows from NHS remuneration, Over The Counter (OTC) sales and HMRC VAT refunds otherwise you could find yourself in a vicious circle. If cash flow is not monitored, you will find the business juggling to settle its liabilities as they fall due. If suppliers are not paid on time, they will not send vital supplies which in turn results in customers going elsewhere. If staff/locums are not paid on time, your patients will suffer due to lack of staff or even poor service levels from demotivated staff. HMRC can issue debt recovery proceedings against the business if debts remain unpaid. Lenders will be keeping a keen eye on the management accounts to ensure the business remains strong and is able to settle its financial obligations as they fall due. Let's explore how UK community pharmacies can identify potential cash flow problems and implement strategies to navigate these challenges effectively. Dispensed items If you are experiencing a drop in the average number of items you are dispensing over time, then it could mean customers could be going elsewhere. Loss of customers will mean less income for the business, and it is always difficult to get them back especially when they have gone to a local competitor. You need to keep an eye on this indicator and investigate any drop in numbers. Implement alternative strategies as to how you may increase this for example through partnerships with local community centres, GP surgeries, colleges, etc.