Corporate team advises on major healthcare acquisition
Our corporate team has supported Avicenna, a co-operative buying group for independent pharmacies, during its multi-million pound acquisition by Juno Health Limited, a fast-growing operator in the community pharmacy sector.
Avicenna was founded in 1992. Since then, its membership base has grown considerably to over 1,000 independent pharmacists. It now has an active position in the sector and offers supply and support services to all of its members. As well as this, it operates a chain of 21 retail pharmacies, largely based in the south-east of England.
Throughout the acquisition, our corporate team advised on a variety of legal areas, ensuring the process went as smoothly as possible.
Keith Spedding, partner in our corporate team, commented:
“Juno has more than 100 years’ experience in the pharmacy sector, making this acquisition a wise move for Avicenna. The pharmacy sector is constantly growing, and Avicenna has put itself in a strong position to take advantage of that. We wish all of the team the very best for the future.”
Ian Gray, chairman of Avicenna, said:
“This acquisition is a great opportunity for Avicenna, and we’ve been overwhelmed by the positive response from our shareholders. I’d like to thank Shakespeare Martineau for their hard work and support during the course of the acquisition. I look forward to starting our journey with Juno and am certain that we’ll continue to go from strength to strength as part of its offering.”
Find out more about our corporate team.