08th April 2019
Strength & Experience in the Face of Adversity
We were recently delighted to complete the sale of the shares of Phillips Chemists Limited, a group of three long established community pharmacies on the Durham/Cleveland border.
Strength & Experience in the Face of Adversity

We needed all of our forty years of pharmacy sales experience to navigate through the difficulties encountered with the sale of this group. 

Our initial marketing in January 2018 was knocked off the rails by the funding crisis as contractors began to feel the true effects of the cuts and clawback. An initial attractive offer was withdrawn and matters were put on hold pending production of up-to-date accounts. 

Re-marketing secured an attractive offer, however as the remuneration issues in the sector worsened in June, the purchaser decided to withdraw or to proceed with a substantial price reduction.

Advocating a steady nerve, we assured our clients that we would resolve matters and following a lot of hard work, within two months we secured another offer from a well-funded and reliable purchaser.

Legal matters were progressing smoothly when out of the blue, there was an announcement of a local surgery crisis and within weeks, a branch surgery close to one of the pharmacies had closed. 

A lot of hard work and intense negotiations followed to finally bring matters to a successful conclusion. 

It pays to place your pharmacy sale in safe and experienced hands!