Pharmacy Transaction to Reinvigorate Community
- AuthorBetsan Powell
Penygroes Pharmacy has come under fresh ownership, with one of the new partners having worked behind its counters as a teenager.
Penny Griffiths and Gareth Harlow have taken up the reins of the busy community pharmacy after buying shares in the business, with JCP Solicitors acting for them throughout the transaction.
The purchase was supported by Lloyds Bank Commercial Banking’s specialist healthcare team.
The business partners have plans to refresh the pharmacy’s offering, giving customers direct access to more public health services on the premises, including free smoking cessation services, contraception and standard health checks which, in the past, have been delivered more commonly at a GP’s surgery or health centre.
Penny and Gareth hope that by providing these service they can help further support the local GP's surgery and provide the local people with greater access to health care service to help support their needs.
Gareth says: Penny and I are delighted to take on Penygroes Pharmacy, which has been a valued part of the community for many years – in fact Penny, who is from the local area, worked here herself as a 16-year-old, so there is some nostalgia in this move for her.”
A Director and Head of Corporate at South and West Wales-based JCP Solicitors, Betsan Powell, acted for the buyers.
She said: “Pharmacy transactions are one of our areas of specialism at JCP Solicitors and I am pleased to have been able to support Gareth and Penny with the legal work throughout this deal, ‘in our own backyard.’
“I know the pharmacy will continue to be a valuable community asset under their ownership and, as Gareth has alluded to, these are times of exciting growth and development for pharmacies throughout Wales, under the Welsh Government’s drive to help give people increasingly easy access to health and well-being services within their communities.”
Timothy Kibby, Healthcare Relationship Manager at Lloyds Bank Commercial Banking, said: “Penny and Gareth have demonstrated an ambitious and innovative attitude, and when they approached us for funding we immediately recognised how their plans will help the business to thrive.
“The pharmacy is an integral part of the local community, and expanding the services on offer will not only help the business to grow but will benefit the whole community.
“At Lloyds Bank Commercial Banking, we’re committed to helping healthcare firms like Penygroes Pharmacy capitalise on expansion opportunities, and we have a team of specialist relationship managers who are on hand to offer tailored guidance and support.”
Left to right: Penny Griffiths (Fferylla Pharmacy), Betsan Powell (JCP Solicitors) and Gareth Harlow (Fferylla Pharmacy).