Well completes acquisition of Care4u Pharmacy
The Well pharmacy chain has completed the acquisition of Care4u Pharmacy, a local community pharmacy chain that consists of seven branches in South Devon.
The purchase forms part of a £200 million five-year expansion plan announced by Well last month following its £620 million acquisition from The Co-operative Group by new owner Bestway.
The pharmacies will continue to operate under the Care4u brand for the time being although a refurbishment and rebrand to Well is due to take place within the next 12 months.
Care4u pharmacy employs around 70 employees at seven local pharmacies in Brixham, Teignmouth, Paignton, Kingskerswell and Torquay.
Well chief executive John Nuttall said: “The vision and values of Care4u match ours, so they are a perfect fit for Well. They are a highly respected pharmacy chain within the South Devon community, known for its passion for providing excellent customer service. We share that passion at Well and pride ourselves on providing personalised healthcare and wellbeing in the heart of local communities.”
Well is aiming to increase customer numbers and grow its annual revenue from £750 million to £1 billion by 2019.
Nuttall added: “Community pharmacies can play a key role in relieving pressure on key NHS services and we are committed to investing £200 million over the next five years to grow our business. This will enable us to develop the role of the pharmacy team and to make sure Well continues to serve its customers and local communities to the high standard the business has always delivered.”
