PDT Solicitors advise on the sale of Savemain Pharmacy
Published: 28 April 2020
Anand Chavda, who recently sold his pharmacy business in Islington during the Coronavirus pandemic, shows us how community pharmacy continues to be resilient as operators work tirelessly in these uncertain times. Anand’s sale was a complex deal, which he fitted in while still running his pharmacy. Similarly to the rest of the sector, he experienced huge demand and finding the time to answer queries and give instructions proved a challenge!
Anand, whose family has run Savemain Pharmacy in Islington, London, for 40 years, describes how the current pandemic impacted his business and highlights again how operators in community pharmacy are showing us what the word “community” really means.
“Just as we were entering the most intensive phase of our sale, it became apparent how quickly the Virus could be spreading amongst the public. As the local GP practices closed their doors, the footfall from walk-ins increased dramatically (customers needing helping with general ailments i.e. cold and flu symptoms, sprains, strains, bad backs etc) as did our prescription numbers. Keeping up with emails and phone calls was nearly impossible with the increased workload and the need to ensure we kept up with the guidance being issued by Public Health England (PHE) and our local Care Commissioning Group (CCG).
Thanks to Holly and Liam I was presented with only the most pressing details that needed my attention. This really helped as at that point we were all working over 70 hours a week just to ensure we could keep up with demand. Having built up a really good relationship with Holly and Liam from early on in the process I knew we were in good hands and would only be contacted when necessary as I was spread very thin already!
We faced quite a few difficulties during the transaction, however from the very onset when we were deciding on which firm to use it became clear that PDT were willing to offer a more personal touch, which is something we really appreciate as it’s the way we have conducted our business for many years. Therefore, the trust created helped to ensure there wasn't a need for second guessing and we really trusted the advice, guidance and instruction given. Although Holly and Liam were working from home there was no disruption in terms of being able to contact them or vice versa. Emails were always picked up, as were phone calls.
No matter how trivial the question they always gave me the time needed to put my mind at ease and just talk me through a process, so I understood what was going on. Having never been involved with a transaction like this it’s easy to become overwhelmed by it all. This all really helped as I was keeping my father and uncle informed and if they had questions, I was able to explain what was going on at that point.”
Anand’s grandfather originally started the business converting a large retail space that was formerly a furniture shop into a pharmacy. Anand’s father and uncle have been helping out since the start, and have seen families generation after generation grow up visiting the pharmacy. Anand has been helping out at the shop from as soon as he was old enough to work the till! He eventually became the superintendent not long after qualifying as a pharmacist in 2005.
Liam Mulvee from PDT Solicitors commented “It’s been a pleasure working with Anand on this sale. It was a complex sale due to having a first-time buyer in addition to the Covid-19 pandemic putting tremendous pressure on the pharmacy team. Getting the sale over the line at this busy and stressful time is a massive achievement for Anand and his family. The sale means his uncle and father can now think about what they will do with all their newly acquired free time! Anand continues to work in the pharmacy, assisting the new owner, which is testament to his commitment to the sector and his customers both during the current challenges and generally. We wish him all the best for the future.”
PDT Solicitors is recognised as a leading legal adviser in the pharmacy and healthcare sector and offer an integrated, one stop approach for numerous contractors and pharmacy operators, from single shop owners to independent multiples, throughout the UK.
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