Pharmacy Sales and Acquisitions

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Pharmacy Sales and Acquisitions

  • Pharmacy valuations provided.
  • Comprehensive Sales pack produced to market your business.
  • We work closely with stakeholders such as solicitors, accountants, funders & landlords.
  • End to end service from marketing through to completion and handover.
  • Whether you’re a first time buyer or a seasoned Pharmacy buyer we will always be on hand to support you through the transaction.
  • Join our mailing list to receive up to date information on Pharmacies for sale.

Sell Your Pharmacy with Confidence

Benefits of selling your pharmacy using Healthcare Plus:

  • No hidden charges – we operate on a no-sale, no-fee basis.
  • No conflict of interest.
  • With over 800+ pharmacy sales transactions successfully completed.
  • We can put you in touch with companies that offer specialist legal and tax accountancy advice.
  • Specialist legal and tax accountancy advice.
  • Assured confidentiality – we can market your pharmacy business confidentially.
  • Being pharmacists ourselves, we have a unique understanding of your business. Through our bespoke service, we listen carefully to your requirements from the very first consultation, then tailor every strategy to meet your specific needs.
  • Connect with our network of hundreds of buyers, including large corporates and independent pharmacy chains. You can count on our experience and reputation within the pharmacy market to find the best buyers for your pharmacy.
  • Regulatory Compliance: To give you maximum peace of mind, you can choose us to handle all the regulatory paperwork on your behalf, including GPhC and NHS Change of Ownership processes and fitness to practise (FTP).
  • Approved members of the Independent Pharmacies Association:
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PHARMACY SALES

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FAQs

Frequently Asked Questions

When deciding between an asset purchase or a share purchase for a pharmacy, it depends on how the business is structured.

In an asset purchase, you buy the pharmacy’s assets like goodwill, stock, and fixtures without taking on its liabilities. It’s simpler and often used for sole traders or partnerships. Legal costs tend to be lower, but NHS licence transfers are required, which can take up to three months.

With a share purchase, you buy the company’s shares, inheriting both its assets and liabilities, including any debts. This involves more due diligence and higher legal costs but avoids delays from NHS licence transfers.

Each option has different legal and financial implications, so it’s crucial to assess your specific situation with professional advice.

The level of due diligence done for your pharmacy purchase may vary, but it is essential for securing a sound investment. Key areas include:

  • Financials: Review at least three years of audited accounts, profit and loss statements, and cash flow forecasts.
  • NHS Contracts: Assess the number of NHS contracts and the pharmacy’s dispensing activity.
  • Regulatory Compliance: Check for any regulatory or compliance issues, including staff contracts and insurance claims.
  • Assets and Liabilities: Verify the value of stock, fixtures, and any outstanding liabilities like debts or leases.
  • Prescription and Payment Reports: Examine prescription item reports and payment schedules to understand revenue stability.

First, decide whether the sale will be an asset purchase or a share purchase, as each has different legal and financial implications. An asset purchase involves selling the business’s assets – like stock, goodwill, and fixtures – while leaving behind liabilities, which is more common for sole traders or partnerships. In contrast, a share purchase involves transferring the ownership of the company’s shares, meaning the buyer acquires both assets and liabilities, including debts.

Once the structure is determined, you’ll need to negotiate and agree on the terms of sale, typically outlined in a Sales Purchase Agreement (SPA). This document specifies what is being sold, any warranties (such as ensuring no outstanding litigation), and how the business and assets will be transferred. If it’s an asset sale, the buyer will need to secure NHS England’s consent for the pharmacy’s change of ownership, which can take several months. Throughout the process, professional advisors, such as solicitors and accountants, play a key role in drafting agreements, conducting due diligence, and ensuring that all regulatory and legal requirements are met before finalising the sale.

At this stage, you should already have lender interest, but now you must secure the funding to complete the purchase. To do this, you’ll need to provide a suite of documentation for the lender to look over. This will include:

  • Full details of the pharmacy you want to purchase, including accounts, tax returns, FP34 statements, etc.
  • Any available latest valuations.
  • The purchaser’s CV, authority to perform credit searches, three months’ bank statements for any and all purchasers (if buying as a group), your business plan and forecasts.
  • Evidence of your cash contribution or deposit. All lenders require this, and only through negotiation can you expect to change the amount of capital you need to put into your purchase.

The pharmacy sales process typically takes between 3 to 6 months, though this can vary depending on the complexity of the transaction. The timeline includes conducting due diligence, securing funding, and finalising legal agreements. If the sale involves an asset purchase, additional time may be needed for NHS contract transfers, which can take up to 3 months. Delays can occur if issues arise during due diligence or negotiations, but working with experienced advisors can help streamline the process and avoid unnecessary setbacks.

On completion, the legal transfer of ownership takes place, and all agreed funds are exchanged. For asset purchases, the buyer gains ownership of the pharmacy’s assets, such as stock, fixtures, and goodwill, while income and profits from that day forward belong to the buyer. If the sale involves NHS contracts, these will be officially transferred, and the General Pharmacy Council (GPhC) must be notified. The seller’s solicitor will receive the final payment, and both parties’ solicitors will confirm that all conditions of the sale have been met. After this, the buyer becomes the official owner of the pharmacy.

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