Rowlands Pharmacy is bringing 70 pharmacies; 69 in England and one in Wales, to the market, presenting a rare opportunity for first-time buyers and independent operators to acquire corporate pharmacy assets. Specialist business property adviser, Christie & Co, has been instructed to market the pharmacies for sale.
The healthcare sector in the UK is evolving at pace with a growing focus on locally-based preventative care which is a core strength of community pharmacy. In response, Rowlands is investing significantly in automation through new central dispensing models to enable them to continue to provide high levels of service to patients, in a more efficient way.
Kenny Black, Managing Director of Rowlands Pharmacy said, “We are committed to investing in the future and changing our dispensing processes in order to deliver sustainable, profitable growth for the business, enable colleagues to spend more time with patients and reinforce the role of Rowlands pharmacies as local health care hubs. As a result, we need to focus our investment on a slightly smaller Rowlands pharmacy network than we have today.
“We are confident the branches we are divesting have the potential for future growth to meet emerging healthcare needs and will create an exciting opportunity for first-time buyers and existing independent contractors to develop and expand the range of services offered on a more localised basis.
“Our branch colleagues will be fully informed and supported throughout this process.”
Tony Evans, Head of Pharmacy at Christie & Co comments, “We are delighted to have been appointed by Rowlands Pharmacy to market these quality assets. The sale represents an ideal opportunity for a wide range of buyers to acquire corporately owned pharmacies that are rarely made available, particularly for pharmacies of high quality which require minimal investment.
“Interest is invited on a group, sub-group or individual basis offering prospective purchasers a flexible approach to acquisitions. We expect to generate high levels of interest across the portfolio and for ease have created a bespoke online data room for interested parties to access detailed information on a pharmacy-by-pharmacy basis.”
For further information on the sites, please visit projectalpha-christie.com.