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Rowlands withdraws from market 12 of 70 pharmacies it planned to sell

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Rowlands: Interest in the remaining 58 branches has been very positive
Rowlands: Interest in the remaining 58 branches has been very positive

Rowlands has taken 12 of the 70 pharmacies it put up for sale back off the market, so it can include them in its “exciting transformation plans”.

The multiple announced in February that it had put 70 of its branches up for sale to focus on a “slightly smaller pharmacy network”.

However, 12 of these have since been withdrawn from the market and brought “fully back into the business”, Rowlands told C+D last week (July 11).

The multiple has “determined they are more valuable” as part of its “exciting transformation plans”, it explained. However, it declined to reveal what these plans entail.

The 12 Rowlands branches no longer for sale are located in: Bromborough, Whitchurch, Prestbury, Sowerby Bridge, Birkenhead, Liverpool (Great Homer Street and Myrtle Street), Darlington, South Elmsall, Leigh-on-Sea, Islington and Peterborough.

Sales of other branches to continue

Rowlands is still planning to sell the remaining 58 pharmacies, it said.

Interest in the branches has been “very positive”, and the multiple has “received many offers that are now progressing to exchange”, it added.

Rowlands is confident the pharmacies “have the potential for future growth” and the change of ownership will “bring new ideas about how they will meet emerging local healthcare needs”.

The sale of these branches is being overseen by specialist brokers Christie & Co, and the location of each can be found on the map below. Branches for sale are in blue, and those taken off the market are in orange.

4 Comments
Question: 
Do you work in one of the affected Rowlands pharmacies?

S. H. Wastell, Community pharmacist

I suspect they haven't had any reasonable offers for these Branches !

Reeyah H, Community pharmacist

No, they have realised they are profitable. Time will tell. 

Leon The Apothecary, Student

I wonder if it has anything to do with their Pilpouches they have been planning since early this year to hub their MDS even further.

https://www.allinone.phoenixmedical.co.uk/wp-content/uploads/2017/05/NuPAC-Manufacturer-Pack.pdf

Sue Per, Locum pharmacist

They have realised that they are still profitable, and will be even more so with the eagerly awaited targettable DIMIRS, and the relaxation on the clawback. The future is looking a bit rosier, for the gangmasters, but not the Pharmacists or Locums!!

 

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