We act for a multiple pharmacy group on various business development matters. Our client (client 1) operated two ‘100 hour’ pharmacies at opposite ends of the country and was looking at opportunities to reduce the opening hours.
Another of our clients (client 2) owned underperforming ‘standard hours’ pharmacies near the two ‘100 hour pharmacies in question’. At the same time, there was a third location where client 2 wanted to buy a standard hour pharmacy for strategic reasons and client 1 owned a business in the town.
The two parties came to the conclusion that there was an opportunity to take a joined up approach which would address the issues in all three locations if a solution could be found to replace the 100 hour contracts with the 40 hour contracts in the first two locations and facilitate the sale of the pharmacy in the third location.
PSC were instructed to act for the parties in managing the various applications to NHS England and advising on the regulatory issues concerned. This was particularly complex given that there were three separate matters which were linked, and the parties wanted to complete everything at the same time.
All three elements of this transaction have now been completed and both parties have the outcome they wanted.
This was an example of how looking at the broader picture when it comes to portfolio management can result in turning problem pharmacies into successful businesses.