EXCLUSIVE

Day Lewis's plans to own 400 pharmacies by 2019 will not be derailed by the government’s cut to pharmacy funding, its director has predicted.

The multiple currently owns 276 branches, and will be "back on the acquisition trail" within a "couple of months", Day Lewis director Jay Patel told C+D last week (February 26).

Until then, it will spend time making the "ship right" in the wake of December's announcement of a 6% cut to the global sum in England. 

"Once we know everything's in order, we can revert back to the growth strategy," he said.

The cuts will not stop the company buying new branches, Mr Patel revealed. "It's a case of looking at the right type of pharmacies and being a little bit cautious," he said.

Day Lewis revealed last year that it was considering expanding into Ireland and Poland, but Mr Patel said last week that any new pharmacies the company acquires are likely to be situated in the UK.

While the company will still consider expanding overseas “if the right opportunities come about”, it is “safe to say we can’t move too far afield just yet”, he said. 

“I’ve got more of a commitment to support my own pharmacy teams here,” Mr Patel said.

Cuts could unite sector

The government's decision to slash pharmacy funding could make the sector more united, Mr Patel suggested.

"That togetherness will result in a positive change – it has to," he added.

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