Experienced pharmacist makes first move into ownership with Bishops Waltham purchase

An experienced Hampshire pharmacist has made his first move into ownership following the purchase of the Bishops Waltham Pharmacy near Southampton.

Mr Madhu Bhogadi purchased the site, which is a well-established community pharmacy providing NHS and private services and dispensing an average of 6,200 items per month, from previous owner Matrix Primary Healthcare.

Madhu said: “I’m delighted to have acquired the community pharmacy in Bishops Waltham.

“It is a business that I am looking forward to growing over time, becoming an integral part of the local community for many years to come, and really making the business my own.”

Akwal Singh, Director at Matrix Pharmacy Healthcare Ltd, added: “It took us a while to decide to market one of our off-patch pharmacies, albeit confidentially, as we haven’t sold a business in many years.

“We were fortunate to attract strong interest in the pharmacy from the start, and I’m delighted with how things went.

“We’re extremely pleased with the outcome and do not doubt that Madhu will be able to take the business to new heights.”

The sale follows a confidential sales process with Jonathan Board at Christie & Co, with funding sourced by Gary Boyce at Christie Finance.

Jonathan Board, Director – Medical at Christie & Co, commented: “I was delighted to act on the sale of this pharmacy and deal with Madhu on his purchase.

“The vast majority of active buyers at the moment are independent operators, and this is a perfect example of what they normally look for – a well-established pharmacy that would benefit from renewed enthusiasm and energy.

“I wish Madhu the very best in his new business.”

Gary Boyce, Director at Christie Finance, concluded: “It’s been a pleasure arranging funding for Madhu and helping him overcome the many challenges in completing his first pharmacy purchase.

“Bishops Waltham Pharmacy provides an ideal opportunity for him to implement his exciting plans, which he’s developed from a wide variety of Pharmacist roles performed to date.

“We look forward to seeing him develop the business and be ready to support his next venture.”

Bishops Waltham Pharmacy was sold for an undisclosed price.

• https://www.christie.com/

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