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Small chain buys all 19 Manichem pharmacies for undisclosed sum

Ealing Pharmacy is one of the 19 branches bought by Enimed. Credit: © 2019 Google, image capture: February 2019
Ealing Pharmacy is one of the 19 branches bought by Enimed. Credit: © 2019 Google, image capture: February 2019

Pharmacy chain Enimed has acquired all 19 of the Manichem Group’s branches across England and Wales for an undisclosed sum.

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.

3 Comments
Question: 
Would you buy a pharmacy now?

Lucky Ex-Boots Slave, Primary care pharmacist

Bold move. Probably way too bold considering the sector is obviously dying with all the funding cuts and even more cuts are yet to come with the nhs long term plan. Many  pharmacies are going financially unviable and eventually closing down. I do admire the guts of the buyer but I'm worried this may not end up well. 

Claude Pereira, Locum pharmacist

Well done to the Enimed Group!! I sincerely wish you all the best in your new shop acquistions!!

Graham Turner, Non Pharmacist Branch Manager

Well done Manichem!

There is no mention of the money involved, but to sell such a massively tanking investment must be such a relief.

Whats the betting that the new buyers end up regretting this purchase?

If not, I can sell them the rights to London Bridge, or a bin bag full of moon rocks!

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