Expanding pharmacy operator acquires another branch
A community pharmacy near Barnsley has been sold for an undisclosed price.
Stone Pharmacy dispenses an average of 22,000 items per month. The business adjoins Garland House surgery in the village of Darfield, about six miles east of Barnsley.
It has been owned by experienced operators, Khuram Akhtar and Mohammed Ali – trading as MEDS2U Ltd – for the last seven years, and was recently brought to market to allow the pair to pursue new ventures.
Following a confidential sales process with specialist business property adviser, Christie & Co, the business has been sold to existing operator, Livesey Healthcare Ltd, which owns another pharmacy in East Lancashire.
Akhtar said: “The business at Stone Pharmacy has been a fantastic enterprise for many years for us, with limited competition and a position central to the local community we have always enjoyed the support of the nearby population.
“We are pleased the pharmacy is now in the hands of experienced operators who can build on that foundation with the expansion of new services.”
Mohammed Balal, director at Livesey Healthcare, added: “We are looking forward to this new challenge and to serving the community of Darfield.
“Stone Pharmacy offers me and my fellow directors a solid platform to grow the business further thanks to the hard work of the previous owners.”
Jon Booth, director – pharmacy at Christie & Co, who handled the sale, said: “Stone Pharmacy was sold for a premium price considering its status at the time as a 100-hours pharmacy contract.
“This was down to its very high volume of items underpinning the success of the contract but also, from the point of view of a new hands-on operator, it offered plenty of growth with the provision of new services.
“With the recent announcement of changes to the 100-hours contract, we anticipate the market for former 100-hours contracts will gain further momentum.”