The attorneys at Azrael Franz Schwab Lipowitz, LLC have developed a unique approach to assist pharmacy owners in selling their pharmacies. Here’s how AFSL can help:
Planning the Sale: Analyze your pharmacy business. Planning includes identifying potential qualified buyers. Does it make sense to target a sale to a chain or an individual, or to a partner? Should you focus on selling your pharmacy as an operating business; or selling different pieces to the pharmacy such as Rx, compounding or medical equipment? Do you own or rent the pharmacy real estate? If you rent, will the potential buyer be able to assume your lease, or will it need a new lease from your landlord?
The Numbers: Your financial statements and Rx records are critical to the value of your pharmacy business. AFSL can work with you and your CPA on financial issues to help you maximize the value of your pharmacy to potential buyers. Tax considerations often play a big role in planning a sale.
The People: A buyer will often insist on retaining key employees to transition the business. AFSL can advise on obtaining non-competition agreements from pharmacists and other key personnel.
Negotiating a Sale: AFSL has many years’ experience in contacting prospective buyers and negotiating pharmacy sales on behalf of its clients. AFSL offers a “success-based” fee structure, which includes both “brokerage” and legal services. You only pay a fee when and if you close a sale.
The Legal Part. AFSL has the experience and legal know-how to protect pharmacy sellers. Documentation normally includes a contract of sale, an allocation of the purchase price among assets and non-competitive agreements; agreements with key employees; notes and security agreements for any deferred purchase price; warranties and indemnities; license transfers; and notifications to DEA and the Pharmacy Board.
Questions about the sale of your pharmacy? Contact the professionals at AFSL. We’ll be glad to speak with you, and there is no obligation for the consultation.