Confidentiality and the sales process

Vendors should maintain a high level of confidentiality around the sale of their pharmacy. There are two main reasons for this.

  • The sale of a pharmacy makes staff nervous and they tend to look around for alternative employment. Invariably the good employees go first. It is difficult to run a pharmacy effectively when you lose your staff.
  • Brokers, wholesales and other purchasers can create a negative environment around the sale of your pharmacy, this makes my job a lot harder and decreases the chance of achieving a good price.

Do not tell staff, pharmacy reps, wholesaler reps, friends and customers. The deal is not done until all contracts are signed and settlement has occurred.

Staff can be notified after the contracts have been signed two weeks to a month prior to settlement (Check the notice period your staff require). The new owners will need to meet and interview the staff. I will notify you when this is going to occur. They occur during your business hours, at your cost.

The community and wholesalers can be notified about two week before settlement. The wholesalers usually know about the transaction earlier because the purchaser must open a new wholesaler account. This usually takes about two to four weeks depending on wholesaler.