Family-owned Day Lewis Pharmacy acquires Chester-based APM Healthcare
Day Lewis Pharmacy will acquire APM Healthcare’s 18 pharmacies, extending its network to 300 pharmacies across the country
Day Lewis Pharmacy, the national pharmacy chain, has acquired healthcare property consultancy APM Healthcare for an undisclosed fee.
As part of the deal, Day Lewis will take over Chester-based APM Healthcare’s 18 UK pharmacies, which it runs in joint venture partnerships with local GPs.
Combing this with its existing stores, Day Lewis now have a network of 300 pharmacies.
The deal is also good news for growth capital investor Beringea, who have a achieved a 3x return on their initial 2011 investment, which was made when APM had only one pharmacy.
Founded in 2009 by Andrew Murray, who previously founded and built Assura Pharmacy, APM Healthcare is the parent company of Community Pharmacies (UK) Ltd.
Day Lewis Pharmacy, an independent, family-owned business, has been operating in the pharmaceutical sector for over forty years – and believe the acquisition will help the business expand its network while also offering a better service to its patients.
“This deal will give our pharmacies broader operational expertise, and the alignment in our cultures and business goals will also ensure our people get the support they need to continue offering exemplary service to patients.
“We’re incredibly grateful to Beringea for its support in our growth so far, which would have been simply unachievable without them, and we look forward to the journey ahead with Day Lewis.”
Steven Tuckley, chief financial officer at Beringea LLP, said:
“We've seen APM Healthcare grow into an incredibly successful business over the course of our six year relationship. Andrew’s experience has been invaluable to the business, making for a strong and well-researched proposition, tight control on operational costs, and the ability to secure partnerships with the NHS.
“This, combined with having a clear exit strategy from the beginning, has made APM Healthcare an excellent investment for Beringea.
“As part of Day Lewis, APM can continue delivering a first class service to patients and we’re excited to see how they develop together going forward.”