Ansons is one of the country's leading specialist pharmacy law firms. We work with pharmacy owners and operatives from the Isle of Wight to the Scottish Borders and our team really understand the specific issues facing your pharmacy business.
We have particular strength in buying, selling or refinancing pharmacies and have advised on over 35 transactions in the last twelve months. Recent transactions include:
- the acquisition of a 12 site pharmacy group in Wales for in excess of £6 million
- the acquisition of a London based pharmacy for in excess of £3.5 million
- the acquisition of two pharmacies in Lancashire and Yorkshire from a major pharmacy chain for in excess of £3 million, including management agreements
- the disposal of a pharmacy in Exeter for in excess of £1 million
- the refinancing of a pharmacy in Berkshire for circa £2 million
Our services to pharmacies include:
- buying or selling assets or shares in a pharmacy
- drafting and negotiating heads of agreement, exclusivity agreements (including costs indemnities) and confidentiality agreements
- legal due diligence – raising and or responding to due diligence enquiries and providing a comprehensive major issues due diligence report for buyers
- advising on and negotiating the sale contract, including dealing with completion accounts, price adjustments, earn-outs, Category M issues, fee and allowance reductions, restrictive covenants, warranty and indemnity negotiations
- dealing with all aspects of disclosure including drafting and negotiating the disclosure letter and preparing the disclosure bundle to reduce the risk of any future warranty claims
- drafting and negotiating pharmacy management agreements for the operation of the business by the buyer pending the transfer to the buyer of the PCT contract
- advising on the legal and step by step procedural requirements of the transfer of employees from a seller to a buyer under to the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE)
- banking and finance of buying or refinancing a pharmacy, acting for both funders and buyers or owners in relation to acquisition finance or refinancing. This includes dealing with security documents (debentures, legal mortgages, fixed charges, personal guarantees), inter-creditor deeds, subordination arrangements and ancillary company compliance requirements (board minutes, shareholder resolutions)
- all property matters associated with pharmacy developments, buying, selling or refinancing your pharmacy business
Our Regulatory team can also help with pharmacy regulation including providing advice on:
· The requirements and obligations under the Pharmacy Order 2010 and the General pharmaceutical Council (Fitness to Practice and Disqualification etc. Rules) Order 2010;
· Polices, Procedures and Compliance;
· GPhC investigations and responses to Investigation Committees; and
· GPhC hearings and providing representation.
Ansons Pharmacy Professional Network (our close professional contacts within the Pharmacy Sector) also includes advisers who can help with pharmacy finance.
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What others say
"We have had regular opportunity to work with Ansons on both the sell and buy side of deals. Their professionalism and thorough understanding of the sector makes them stand out and helps drive sales, always with their client’s interests at heart. We have no hesitation in recommending them to those looking to buy or sell a pharmacy business."
Tony Evans, Director, Christie & Co
"The Lloyds TSB Healthcare Banking Team has completed many pharmacy transactions where Ansons have been involved, either acting for the purchasers or representing the Bank. The sector knowledge and expertise of the Ansons Corporate team is well-acknowledged and valued, and has smoothed the passage of a number of challenging deals to completion."
Lloyds TSB Healthcare Banking