Buying a pharmacy

Team of solicitors with pharmacy experience

Strong connections with other professionals in the sector

Clear understanding of the complexities of the pharmacy sector

Experienced in buying and selling pharmacies

Buying a pharmacy

Whether you are a new entrant to the market or an experienced operator, we will work with you to ensure that your purchase runs smoothly and to your timescale. We understand that you may already be working in a pharmacy or running an existing business and will always and try and work around your hours when communicating with you.

Experienced in the pharmacy purchase process

  • Assets and Share Purchases
    We advise on both asset and share purchases, tailoring our advice, documentation and costs accordingly. We know the right questions to ask of the seller and how to negotiate appropriate protection into the contract. We will work closely with you, your lender and tax advisers from the outset to ensure you receive a first class service.
  • Finance
    Getting your finance in place at the earliest stage will install confidence in your seller and remove the potential for delay. We can help review your banking documents and evaluate the terms of any financial covenants to ensure your business can meet the required standards in the future.
  • Property
    You may be buying a freehold, taking an existing lease or negotiating new lease terms. We will investigate the title, help satisfy the requirements of your funder and ensure any lease terms are favourable and appropriate for the particular location of the pharmacy.
  • Management Agreements
    Sometimes parties enter into a management agreement prior to completion in order to allow the buyer to enter and run the pharmacy prior to granting of NHS Consent. We can help draft and negotiate appropriate terms.

Case Studies

  • Purchase for first-time entrant of pharmacy in Dorset for c. £700,000.
  • Purchase for multi-chain operator of pharmacy in Gloucestershire for c. £2m including negotiation of management agreement.

FAQs

This will depend on a number of factors including whether you are buying the assets or the shares, how quickly you can obtain funding (if needed) and whether anything unforeseen arises during the purchase. As a rough guide you could expect a purchase to take between 3-4 months from the point an offer is accepted.

You only need to apply for change of ownership if you are buying the assets of the selling company (the business) rather than the shares in the company itself.

If you buy through an asset purchase, the TUPE Regulations will apply. In general these Regulations require you to honour the existing contractual terms of the employees. Part of our job in advising you would be to talk you through the process and help you with any re-structuring you may want to do.


Contact us to find out how our expert team can help.