The sale of the Manichem pharmacies – predominantly located in Berkshire and Buckinghamshire, England – was completed last week (January 31), brokers Pharmacy Seekers confirmed to C+D.
The acquisition brings the Enimed portfolio up to 26 pharmacies and “significantly” increases the group’s “geographic reach”, Pharmacy Seekers added.
Enimed said in a statement that while it “understands the challenges” facing community pharmacy, “we remain committed to being at the forefront of innovation, training, adoption of new services and continued investment” in the sector.
“The core Manichem portfolio…provides attractive geographic synergies with the existing Enimed footprint.”
Enimed is “well capitalised after a fresh investment round and a comprehensive refinancing package” and has plans for “further strategic acquisitions”, it added.
Andy Harwood, director of Pharmacy Seekers, said: “This is a game-changing transaction in independent pharmacy and makes a really big statement, signalling strong confidence in a very robust sector.”
Pharmacy brokers Hutchings Consultants predicted last month that a “large number” of pharmacies will come to the market in the first six months of 2019, as contractors feel the effects of the category M clawback and drop in the single activity fee.