Medical group may put pharmacy chain up for sale

Assura, which owns and manages primary care properties across the United Kingdom, is seriously considering putting its chain of pharmacies up for sale, according to a report in the Manchester Evening News. Assura is thought to want to concentrate on its core property activities.

The healthcare company owns 33 pharmacies around the UK, which together generate £31.1 million in annual sales - up around 16 per cent on the previous year's revenues.

In March 2010, the company sold a majority stake in Assura Medical, its medical services business, to Virgin Healthcare. Assura still owns 25 per cent of the unit.

Nigel Rawlings, Assura's Chief Executive, said that his pharmacy chain could well be attractive to the larger players including Lloyds and Alliance Boots, even though he thought they were not presently involved in the mergers and acquisition market.

The sales growth of the division together with the relative stability of the retail pharmacy sector will no doubt make this business an attractive prospect to a far wider group of acquisitive companies than just the leading pharmacy chains.

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