Thursday, February 2, 2023

Lincolnshire pharmacies sold

Stagedale Limited, the operator of two high-dispensing volume pharmacies in Lincolnshire, has been sold.

The sale comprised West Elloe Pharmacy, which sits adjacent to a busy health centre in Spalding, and Knight Street Pharmacy, which occupies a prominent high street location in Pinchbeck. On average, West Elloe Pharmacy dispenses a huge 53,000 items per month – making it one of England’s highest dispensing bricks and mortar pharmacies – and Knight Street Pharmacy dispenses over 9,000 items per month.

Innovation and technology have been core principles of the business, as they have adapted over the years to implement automated dispensing services and to allow patients to collect prescriptions 24 hours a day – a service that has developed strongly as a result of the pandemic.

Stagedale Limited, which owned and operated these pharmacies for over a quarter of a century, was put up for sale following the impending retirement of some of its shareholders.

Through a confidential sales process managed by Carl Steer and Tony Evans at Christie & Co, it has been sold to BMP Healthcare Limited, a Leicester-based, eight-strong pharmacy group.

Ryszard Cygan, Managing Director of Stagedale Limited, says: “We are delighted to have sold the business to BMP Healthcare, a young and exciting group which shares the same ethos and principles we have had at the core of our business for the last 25 years. We are confident that Rahul and team will continue to develop the services the pharmacies offer, further enhancing their profile with patients across the Spalding area.”

Rahul Patel, Managing Director of BMP Healthcare Limited, says: “We are delighted to have acquired such a prestigious pharmacy business which has been at the heart of community pharmacy in the Spalding area for over a quarter of a century. Working alongside our existing eight pharmacies, we are looking forward to delivering not only the strong service the pharmacies already offer but also to introducing additional services to further enhance the delivery of care to our patients.”

Carl Steer, director – Medical at Christie & Co, says: “The sale of Stagedale Limited demonstrates the appetite and confidence some operators have in the marketplace. Knowing Rahul’s existing pharmacy estate, the purchase of Stagedale Limited’s pharmacies will complement this further to the benefit of patients and the communities the pharmacies serve.”

Stagedale Limited operating West Elloe Pharmacy and Knight Street Pharmacy was sold for an undisclosed price.

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