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MedicX puts its 21 branches on the market

C+D has learned that the multiple has already received "strong levels of enquiries" about iits 21 branches, which it is selling individually, in small groups or as a portfolio

EXCLUSIVE

Independent chain MedicX Pharmacy is selling its 21 branches, inviting interest from independent and multiple buyers.


The group had already received "strong levels of enquiries" from potential buyers and was looking for a "timely sale", broker Christie + Co revealed yesterday (August 4).


The pharmacies, many of which are situated within or near to health centres, are available to purchase either individually, in small groups or as a portfolio, said Christie + Co, which is overseeing the sale.


"It is extremely rare for an estate of such high quality to be available for sale on an individual or sub-group basis. The estate is relatively new, so the pharmacies provide a genuine opportunity for purchasers to expand dispensing activity and services beyond the already strong levels achieved," added Tony Evans, director of pharmacy at Christie + Co.


The pharmacies are a mixture of standard hours and 100-hour contracts. Thirteen are located in north west England, with five in London and the south east, two in Yorkshire and one in Wiltshire.


The chain did not explain why it had decided to sell the pharmacies.


MedicX Pharmacy was set up as an independent pharmacy company in 2007 by the MedicX Group, a UK healthcare property investor and developer. In 2010, MedicX Pharmacy separated from the MedicX Group.


In 2012, MedicX Pharmacy's Hemel Hempstead branch achieved third place in C+D's Platinum Design Awards.



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