Hartlepool town centre pharmacist taken over by expanding North East firm
Healthways Chemist, in Middleton Grange shopping centre, Hartlepool, has been taken over.
Specialist business property adviser, Christie & Co completed on the sale of Healthways Chemist, an independent community pharmacy in Hartlepool, to expanding local operator Pharmacy Express.
Previous owner and pharmacist, Aman Hussain acquired Healthways Chemist through Christie & Co in December 2016.
Under his ownership, the pharmacy significantly increased its monthly dispensing average and now presents further opportunity for growth through the expansion of the current dispensing space.
Mr Hussain decided to sell in order to pursue other business interests.
New owner, Pharmacy Express maintains a portfolio of five pharmacies across Teesside and County Durham, now including Healthways Chemists, with plans for further expansion in the near future.
Karl Clezy, director at Christie & Co handled the sale and said: "During his time running the pharmacy, Mr Hussain successfully increased the average monthly NHS items from 8,800 items to over 13,000 items.
"This was a product of the owner’s sheer hard work, which helped attract interest when we were instructed to sell the pharmacy.
"The owner only asked us to contact a few buyers on a highly confidential basis. I knew Pharmacy Express wanted to acquire more high dispensing pharmacies in the region and we managed to agree a price that met the owner’s expectations.”
Chris Hughes, of Mincoffs Solicitors in Newcastle, acted on behalf of the Pharmacy Express and Chris Peace of Shulmans Solicitors in Leeds acted on behalf of Mr Hussain.
Both solicitors are highly experienced in pharmacy transactions.
Chris Hughes added: "It was great to help Pharmacy Express to expand their presence in the region and we wish them every success with their new business venture.”