Chemist + Druggist is part of Pharma Intelligence UK Limited

This is operated by Pharma Intelligence UK Limited, a company registered in England and Wales with company number 13787459 whose registered office is 5 Howick Place, London SW1P 1WG. The Pharma Intelligence group is owned by Caerus Topco S.à r.l. and all copyright resides with the group.


This copy is for your personal, non-commercial use. Please do not redistribute without permission.

Printed By

UsernamePublicRestriction

Independent group buys coastal Scottish pharmacy for £1.5m

The only independent pharmacy in a remote coastal town in Scotland has been bought by the Right Medicine Pharmacy Group for "in excess of £1,450,000".

The John Kennedy Pharmacy is one of four in Dunoon, a town on the Cowal peninsula, on the west coast of Scotland.

The area also has two Boots branches and one Well pharmacy, and the John Kennedy Pharmacy is “one of the busiest”, dispensing 8,500 items per month, according to property adviser Christie & Co.

Following the previous owner’s retirement, the independent pharmacy was purchased by the Right Medicine Pharmacy Group in April, which now operates 24 pharmacies across Scotland.

John Kennedy, the previous owner, sold the pharmacy for “in excess of the £1,450,000 asking price” after owning the business for 26 years, Christie & Co confirmed.

Reasons behind the acquisition

Right Medicine Group managing director Noel Wicks told C+D the “stunning” location of the pharmacy and its “independent style of service” were key reasons for buying.

“For us, it appealed because it was a well-run pharmacy, it was well fitted out, it had a very good reputation and we tend to favour pharmacies that are the hubs of their local communities,” Mr Wicks said.

The group is based in Stirling, but its pharmacies span from Wick in northern Scotland to Dumfries in the south.

Getting on the ferry – the quickest way to reach the town from the group's head office in Stirling – was a “fun experience”, Mr Wicks said. The location of the pharmacies the group purchases “is not an issue as long as the businesses are run well”, he added.

Mr Wicks credits the dedicated pharmacy staff – who have all been retained – for the branch’s success. Having the group's head office look after many of their pharmacies' back office functions – including data regulations, HR and payroll – means the teams on the frontline can spend more time with customers and less time on administrative duties, he explained.

“People muck in, and the staff wouldn't see patients go without, so that's really what you want to inherit,” he explained.

“That's just as important as the bricks and mortar as far as we're concerned.”

Do you know of any new pharmacy acquisitions in your area?

Related Content

Topics

         
Pharmacist Manager
Barnsley
£30 per hour

Apply Now
Latest News & Analysis
See All
UsernamePublicRestriction

Register

CD005367

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Thank you for submitting your question. We will respond to you within 2 business days. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel