MSN & Lunts Pharmacy Group Expands with New Acquisition
Ravi Nagra, CEO of the regional chain MSN & Lunts Pharmacy Group, has expanded his company’s portfolio with the acquisition of Bicton Heath Pharmacy in Shropshire.
The purchase, brokered by Christie and Co, marks another strategic move for Nagra, who also serves as a regional multiple representative for the Shropshire Local Pharmaceutical Committee.
While the exact purchase price remains undisclosed, Bicton Heath Pharmacy dispenses an average of 6,600 items a month, highlighting its role as a busy and vital local service.
MSN & Lunts Pharmacy Group already boasts a solid presence in the region, with branches located in Shrewsbury, Pontesbury, Craven Arms, Highley, Ludlow, as well as further afield in Birmingham and the Black Country.
The addition of Bicton Heath Pharmacy is expected to enhance the group’s regional influence and service offerings.
Christie and Co, the broker responsible for facilitating the sale, revealed that the pharmacy was part of a wider corporate disposal project, signalling a trend within the pharmacy market. According to the firm’s director of pharmacy, Nagra’s acquisition is indicative of a broader return of small-to-medium-sized group operators to the buying landscape.
As these operators secure deals throughout 2024 and beyond, they are positioning themselves for a strong 2025, with many expected to finalise transactions in the first two quarters of the year.
Christie and Co is poised for what they believe will be a record year of activity in 2024, driven by an increasingly buoyant market, particularly across the Midlands. The director stressed that accurate pricing will remain crucial for all sellers, but the positive momentum in the pharmacy market is welcome news for those considering selling their businesses.
This latest acquisition underlines Ravi Nagra’s ambition to strengthen the MSN & Lunts Pharmacy Group’s position within the pharmaceutical sector, particularly in the Midlands.
As the market becomes more dynamic, both buyers and sellers alike will need to remain strategic, making well-timed decisions to capitalise on the growing opportunities in the region.
News Credits: MSN & Lunts Pharmacy Group adds another branch to its portfolio
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