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New name for Co-operative Pharmacy early next year

Bestway has the right to operate the pharmacies under 

Bestway plans to operate the 771 pharmacies under the Co-operative branding for a transitional period of 12 months, but had already began "developing and testing" potential branding with the aim of confirming a new name by April 2015, it said.

Bestway will unveil a new brand name for the Co-operative Pharmacy early next year, following its acquisition of the chain.


The UK-based food wholesaler group took formal control of the business yesterday (October 6) after buying it for £620 million in July. The group has the right to operate the 771 pharmacies under the Co-operative branding for a transitional period of 12 months, but had already begun "developing and testing" branding with the aim of confirming a new name by April 2015, it said.


The Co-operative Pharmacy's headquarters are currently located with the Co-operative Group at One Angel Square, Manchester, and Bestway said it had identified a number of possible sites in the city for the pharmacy business to move to.


Bestway chief executive Zameer Choudrey said he was "delighted" that the "thriving business" would remain in Manchester. This would ensure "minimum disruption" for the Co-operative Pharmacy's management, he stressed.


Mr Zameer said he had been impressed by the Co-operative Pharmacy, which had continued to "perform strongly" and "operate ahead of budget" since the deal was announced. "At the time, we said our approach was to support the existing management to drive the business forward and this is precisely what we are doing," he said.


To buy the pharmacies, Bestway had received financial support from a number of banks including the Royal Bank of Scotland and Barclays. Bestway had been "significantly oversubscribed" with funds to buy the pharmacies, which showed the enthusiasm among financiers for the deal, Mr Choudrey added.


With the addition of the Co-operative pharmacies, Bestway will have an annual turnover of approximately £3.6 billion and a global workforce of more than 33,000 people, including more than 11,900 in the UK.


Read C+D's guide to the Bestway deal.


What would you rename the Co-operative Pharmacy?

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20 Comments

Leon The Apothecary, Student

Personally, I'm going to stay optimistic about the newcomers and let the evidence of their work do the talking, good or bad.

Cod Fillet, Community pharmacist

Unfortunately I suspect this new management won't be any better for our colleague pharmacists. It's sad.

I real good opportunity was lost to sell all the pharmacies to individual pharmacists. They could have done an auction style sale and possibly achieved the same price for the group. More independent pharmacies are needed! I keep saying this to my patients.

London Locum, Locum pharmacist

It's all about the money. Patients are secondary.

N O, Pharmaceutical Adviser

.... how about " How-to-operate pharmacy" ????

This way you are telling people that you have no previous experience in Pharmacy business nor the owner is a pharmacist (yet has all the powers in this country to buy a giant group since you are a billionaire) and at the same time you are asking for suggestions from all the members of public (and may be from the staff) on what you can do to meet their expectations !!!

N O, Pharmaceutical Adviser

Looking at the voting pattern, either lot of co-op (i mean ex-co-op, sorry bestway, oops i don't know what to call them ... ) have taken up keen interest in C&D all of a sudden or have been asked by someone to do so, it happens !!

O J, Community pharmacist

Why all that negativity?
They paid a fortune for this business. It's a new entrant in the market let's be positive, wish them good luck.

N O, Pharmaceutical Adviser

Well my friend, why so much sympathy to a billionaire investor?? It is not negativity, it is called telling the truth. We are the only profession where corporate giants with absolutely ZERO experience can own the business. And we keep fighting everywhere about clinical, patient orientated bla blah stuff. Lets talk basics, why is that an independent can only be owned by a pharmacist or a partnership of Pharmacists, but a corporate body can still own a parmacy without a signle person on the board who is a pharmacist, by having a superintendent pharmacist in place?

Just imagine if government had intervened and taken this as an initiative, to get these branches made available for only Pharmacists and that too one pharmacist one pharmacy rule could have been a dream come true. Instead we have one more profiteer talking about patient care, without having a qualification to prove that.

Lets keep it to that "MONEY MATTERS FIRST, EVERYTHING ELSE CA WAIT"

Sami Khaderia, Non healthcare professional

N O

I bet you do your shopping in a supermarket. Hello................Supermarket are billion dollar industries.

Yes I would love to buy another Pharmacy but I dont have the money to do so. If you feel Pharmacies should be owned by Pharmacists which I agree, do you also advocate there being an open market IN the UK and not the current cartel we have?

Really? Wow, Superintendent Pharmacist

Sami,

By Cartel do you mean as regards to NHS contracts?

If we had a continental model e.g. France, where a pharmacist can own a maximum of two pharmacies; I don't think there would be a need to restrict contracts so heavily.

Also, if we had this model all along we may be in the position where we do have power as a group, and less apathy in the profession that the 'employee of a corporate' has unfortunately bred in the UK to the detriment of the profession.

Sami Khaderia, Non healthcare professional

I will give yo a better idea. A free an open market open to all and not a select few. There are towns/localities where a certain Pharmacy will monopolise the system by either buying a loal Pharmacy or blocking any applications, so new entrants cant come in. If you stifle competition, Things will never improve.

Just look at Aldi/Lidl.....The Big 4 are loosing millions of customers

N O, Pharmaceutical Adviser

I will give you an additional better idea (or insight)

Let the NHS have total control of all the reserves in Bank of England. Then we will open the Pharmacy market to all. So, now the NHS can pay additional/ minimum fees (like establishment fee, RD fee, Practice Payment etc.) to all the pharmacies (may be a street full of different pharmacies), so that they can increase competition and better customer service !! Is that what you want to happen???

Sami Khaderia, Non healthcare professional

Typical scare tactics from contractors showing us their begging bowl. Only if we open the market will we know if there are too many Pharmacies.
If someone has paid their income tax/NI, why shouldnt they open a Pharmacy?

IF you are not happy with the funding .SELLLLL UP !! THERE IS NO ROPE AROUND YOUR NECK forcing you to stay in the profession. Call christies and they will tell you the number of ppl interested in buying. I bet you wont !!!

N O, Pharmaceutical Adviser

Relax ....... take a deep breath ....... and hold it till you read the following and understand it carefully

If you don't make money you don't do business.

Even if someone sells up, the next person will only buy it if he/ she can see the business making money in the future too. No one will (may be except you) buy a pharmacy because they are in the que, they buy it because they want to work for themselves AND MAKE MONEY for a secure future NOT FOR CHARITY.

Will you stop working and let someone else take your place, if your wages are cut (I am talking about jobs with the government not private sector) or will you join your Union in protesting the wage ?? So, just because the Govt has reduced the funding you don't sell up. But, you will start protesting against the decision and start renegotiating.

No one will (including those standing in the que) open or buy a pharmacy, the moment government stops funding for these extra fees.

If you call, asking to be compensated fairly for the services we provide as a BEGGING BOWL then you have no idea what is a begging bowl. Or may be you don't even do the basics of providing good care and just lie their watching people suffer as long as you get something to make your life comfortable.

.......... OK now you exhale and keep doing it for next 24 hrs, before you even think of replying to this post if you are a serious person.

Sami Khaderia, Non healthcare professional

I refer the right honorable gentleman to the answer I gave a moment ago"?

You seem jealous/envy.
Like greed and lust, Envy (Latin, invidia) is characterized by an insatiable desire. Envy is similar to jealousy in that they both feel discontent towards someone's traits, status, abilities, or rewards. The difference is the envious also desire the entity and covet it.

Sami Khaderia, Non healthcare professional

The value of a service is WHAT someone is willing to offer/pay IE THE NHS, NOT what YOU perceive its worth.
A house is worth WHAT someone is wiling to Pay not WHAT the owner thinks its worth.

Basic economics Jim Bob

You can protest what you like. The clear answer from the NHS is NOT interested because someone will come along and do the service others are either not prepared to do.

N O, Pharmaceutical Adviser

You haven't been good student, looks like. You didn't read the post .... 24 HRS .... get the homework done before next post.

Nick Clegg has promised to give importance to the waiting list for mentally ill people. Have you considered pushing you name now or you have already been considered for an urgent care??

You don't seem to understand your own self and what you post in your response, most of the time you end up criticising your own comment s. Anyway, HOMEWORK first.

Sami Khaderia, Non healthcare professional

It looks like you haven't been a good student not You haven't been good student, looks like

Have you considered pushing YOUR name now or have you been considered for urgent care NOT Have you considered pushing you name now or you have already been considered for an urgent care??

Did Mummy take you to primary school or do you actually know who she is?

Sami Khaderia, Non healthcare professional

What are drama queen you really are..

If you don't like the funding in Pharmacy, why don't you sell up? No one feels sorry for you. Everyone has taken a hit including Locums who haven't had a pay rise in 5 years yet they get on with it. The sun doesn't revolve around you Jim Bob!!

Your nonsense stories of Pharmacy not making money are lies...........

N O, Pharmaceutical Adviser

Just in case if you did not understand, as it is not as simple as a football game or a grocery shopping.

The problem we face is not having competition, the problem we have is not having competition between providers. We don't need more Pharmacies to open to increase competition. We need more Pharmacies to be owned by different individuals who will then compete with each other to get more business. And how they do that? When it comes to Pharmacy all they can do is improve service provision and not cutting the price (as is the case with Lidl and Aldi) How can you expect any improvement/ competition, when you have 4 Boots/ Lloyds pharmacies and 1 independent in a catchment area?

Hope you understand.

Sami Khaderia, Non healthcare professional

N O..

u sound jealous.

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