McKesson UK is selling its UK businesses – including 1,325 Lloydspharmacies across the UK, the wholesaler AAH, app Lloydsdirect, Lloydspharmacy Online Doctor, travel health service MASTA and its John Bell & Croyden branch in London – to private equity firm Aurelius Group, with the deal to close in the fourth quarter of fiscal 2022, until when it will “continue to operate” its UK portfolio.
No idea what will then happen!
Written by
helvella
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There were some requirements imposed when Lloyds took on Sainsbury pharmacies.
And we need to look elsewhere to see the full closure picture. Having already closed a considerable number of sites, Boots are now reported to be removing pharmacy provisions at another 22 locations.
AURELIUS agrees to acquire McKesson UK, the UK’s leading fully integrated healthcare provider, across retail, wholesale, homecare and digital platforms for an enterprise value of GBP 477m
Represents the largest transaction undertaken by AURELIUS since being established in 2005 and only a few months since the launch of the AURELIUS European Opportunities Fund IV
McKesson UK is focused on playing a key role in the UK healthcare market including in the response to the COVID-19 pandemic
AURELIUS is committed to supporting McKesson UK with the delivery of its growth initiatives and its next stage of development
Co-investment structure together with AURELIUS Equity Opportunities SE & Co. KGaA is already paying off
Further enhances AURELIUS’ renowned track record in the industry as carve-out specialist and trusted acquirer
In my experience through business contacts, Private Equity firms load their acquisitions with debt, charge them high management fees, put in management teams who 'understand' their business model, monitor the 'numbers' incredibly closely, then sell off the acquisitions at the 'right' time. Because of special provisions in law, they pay very little tax. The people I know - or more correctly, knew - are all billionaires and move in an exclusive international clique with other billionaires.
Helvella thank you so much for the wow information and links.
I wonder what implication that is going to have....... if you are a loyal costumer of Lloyds pharmacy.................the only really accommodating chemist in this country.
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