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MediEstates Pharmacy - Change of Ownership
Change of ownership

Change of Ownership



When you are selling or buying a pharmacy there are steps you need to take to ensure that you are correctly registered with NHS England and the General Pharmaceutical Council (GPhC).

The steps required depend on whether or not the transaction is an asset sale (sale of the business assets only) or a share sale (sale of the whole company shares).

ASSET SALE
  • You will need to submit a change of ownership application to your Local Area Team.
  • The application form can be found here https://www.england.nhs.uk/commissioning/primary-care-comm/pharmacy/market-entry/. The form must be completed and submitted by the buyer, but the seller will also need to sign the form.
  • The Local Area Team will usually take a month to determine your application, and as long as there are no changes to or interruption in service provision the application should be granted.
  • A 30 day appeal period will then commence which is open to interested parties including nearby pharmacies.
  • Providing no appeals are lodged the change of ownership can take place, however the buyer must submit a commencement date form to the Local Area Team giving no less than 14 days notice of the transfer date.
  • The whole process usually takes a maximum of 3 months.
  • Ideally change of ownership will take place on the same day as legal completion of the pharmacy transaction however this is not always possible so provisions can be made to complete the change of ownership after completion.
  • Once the NHS change of ownership takes place the new owner has 28 days to register with the GPhC. The GPhC transfer of ownership and superintendent nomination form can be found here https://www.pharmacyregulation.org/registration/registration-pharmacy-premises/transfer-ownership.

SHARE SALE
For further advice on legal and regulatory matters visit the following organisations;

NHS England
GPhC
RPS
PSNC

This agreement is in relation to MediEstates Limited introduction to a prospective sale of a business as a going concern. By registering through this agreement I agree to all terms set out below:

  1. To treat all information supplied by or on behalf of the Vendor in connection with the sale of the Business as confidential. Confidential information relates to: -the actual Vendors identity and all confidential information in respect of the Business; including but not limited to: any ideas, business methods, prices, accounts, finance, marketing, research, development, manpower plans, processes, market opportunities, intentions, design rights, product information, customer lists or details, employee's details, trade secrets, computer systems and software, and other matters connected with the products or services manufactured, marketed, provided or obtained by the Vendor, and information concerning the Vendor's relationships with actual or potential clients or customers and the needs and requirements of such clients' or customers' operations.
  2. Duties of Prospective Purchaser are:
    1. To take such reasonable security measures to protect the Confidential Information as it takes to protect its own confidential information.
    2. All communications are to be through MediEstates unless agreed.
    3. That they shall not, without the prior written consent of the Vendor, permit any of the Confidential Information to be disclosed, other than in confidence to its legal or professional advisers, to be copied or reproduced; to be commercially exploited in any way; to be used for any purpose other than in connection with the prospective purchase of the Business; and to pass outside the control of the Prospective Purchaser.
    4. The Prospective Purchaser must not jeopardise or re-direct the sale under any circumstances.
    5. That they will not contact any 3rd parties related to the business for which information has been provided, i.e. solicitor's, employees, accountants, clients.
    6. That they will not under any circumstances contact the Local Area Team or CCG regarding any business sale, by any means of media unless written permission has been granted by the current Vendor.
    7. To carry out own Due Diligence once any business purchase moves to forward, and accepts that MediEstates Ltd only supplies information provided by the vendor and is not responsible for its accuracy or completeness.
    8. To lodge a deposit held in a client account to secure a business sale and cease its marketing, which is refunded on completion.
    9. To not use any social media at all regarding business details.
  3. If you require finance to purchase your business, or need other financial services, MediEstates on your approval will refer you to an FA to assist you. MediEstates may be paid a fee for this service.
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