A pair of pharmacies in Halifax have been sold for an undisclosed sum.
The sale comprised of two GP-integrated pharmacies which trade under the Medichem brand. One is located at a Kos Clinic in Hipperholme, and the other at Northowram Surgery in the village of Northowram. Together, they dispense around 20,000 items per month.
The pharmacies were previously owned and operated by pharmacist directors, Rajeev Dhand and Ivan Ng, in partnership with the adjoining surgeries’ GPs.
They decided to sell to concentrate on another pharmacy business in Leeds and pursue other projects outside of community pharmacies.
Jessica Fielden, Associate in our Corporate team advised Rajeev, Ivan and the other shareholders of Medichem Northolme Limited on the sale of the shares to pharmacist director, Jeet Vadodaria, and his partners, which include the Principal GP at the two surgery locations. The sale was arranged by specialist business property adviser, Christie and Co.
The new owners already own Swillington pharmacy near Leeds, which was also acquired in 2021, and plan to expand the vaccination offering at both sites and to enhance the business’s additional services offering. They will also redevelop the surgery and pharmacy at the Hipperholme site, eventually moving into a brand-new, purpose-built retail unit.
Dhand said: “The new owners inherit a pair of excellent pharmacies and I have no doubt that, with the plans they have for developing the business, they will become even more successful with such a strong base to begin.
“Ivan and I wish the new owners and the staff the very best for the future.”
This transaction becomes the third one that Jessica Fielden has acted on for Dhand.