Avicenna more than doubles pharmacy estate with acquisition

Latest

Avicenna more than doubles pharmacy estate with acquisition

In Latest

Pharmacy chain Avicenna has increased the size of its estate from 44 to 101 with the acquisition of Dudley Taylor Pharmacies Ltd. 

The acquisition of 57 stores will see all 670 Dudley Taylor pharmacy employees join Avicenna, increasing the latter’s personnel to “around 1,150,” chief executive Jonathan Power told Pharmacy Network News this afternoon. 

Talks began during Covid and took “several months,” Mr Power said, adding that on average the newly acquired pharmacies process “around 8,000 items per month”.

“The larger a pharmacy is, the better the outlook. I think that’s the sweet spot where you’ve got more certainty over a successful future”.

The new pharmacies are located across Yorkshire, the Midlands, the south of England and Wales, and represent a mixture of high street and health centre locations.

This “complements our existing estate perfectly,” he told PNN, adding that it is “exciting that we will have our first set of pharmacies in Wales”.

When asked why Avicenna has decided to purchase more pharmacies at a time when other multiples are shrinking their estate, he said: “The industry is going through a tough time, but I believe in the future of bricks and mortar pharmacy. A well-run pharmacy chain has a really positive outlook.” 

He said Avicenna plans to continue expanding and is likely to announce more acquisitions in 2021.

“We want to invest more in the business throughout this year,” he said. This includes “upgrading and rebranding stores,” as well as developing its digital offering through the newly created ‘tech business unit’ AviLab, which includes an integrated purchasing system and a medication management app for patients.

Record my learning outcomes

Latest

Inspiring stories related to health, fitness and the pursuit of wellbeing

Share:

More like this

bookmark_icon_off
Latest

NHSE: Pharmacy must speak 'as one' to gain power

Community pharmacies need to speak 'as one' to gain greater influence within primary care, a senior NHS England official has said. 

1 Min Article

bookmark_icon_off
Latest

Pharmacy2U posts £16m loss for 2018-19

Pharmacy2U's revenue for the year ending March 2019 went up to £60.7m while registered patients rose to 331,000.

1 Min Article

bookmark_icon_off
Latest

Patient records could carry a genomic profile within ten years

NHS sets out plans to be the first healthcare system in the world to offer whole genome sequencing as part of routine care.

1 Min Article

bookmark_icon_off
Latest

NPA funding petition nears 90k signatures after protests

Just over 89,000 people have signed an NPA petition calling on the Government to reimburse pharmacies’ Covid-related expenses.

1 Min Article

bookmark_icon_off
Latest

Allow remote exam sittings, RPS urges regulator

The RPS says it believes provisional registrants should be able to take the assessment remotely.

1 Min Article

bookmark_icon_off
Latest

Guidance for pharmacy teams on making hand sanitiser

Commonwealth Pharmacists Association's training video supports production of WHO formula hand sanitiser. 

1 Min Article

Recommended Learning

Sponsored education

The person behind the patient

This interactive video will introduce three patients with erection problems (EPs) and ask you to work out what the causes might be and how you can help.

4 Min Module

bookmark_icon_off
Sponsored education

Understanding constipation treatments

Discover the key benefits of different types of laxatives, and the right questions to ask customers to ensure you know which to recommend

10 Min Module

Sponsored education

Treating fungal nail infections

Understand how fungal nail infections develop and help manage customer expectations around treatment

10 Min Module

bookmark_icon_off
Sponsored education

Sore throats and antibiotic resistance

This module will help you to understand and educate customers about the risks of antibiotic resistance, and recommend products to help them effectively manage their sore throat symptoms.

 

10 Min Module

bookmark_icon_off
Bayer Business Programme

Make it Count: Manager version

This training offers new insights into the customers of today and explores how you and your team can adapt your sales approach to engage with customers in order to grow your business.

15 Min Module

bookmark_icon_off
Sponsored education

This module will help the pharmacy team to understand erectile dysfunction and its causes, and supply Viagra Connect to male customers affected by it, where appropriate

10 Min Module