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Salrook Healthcare pharmacies sold to local operator


Salrook Healthcare pharmacies sold to local operator

By Neil Trainis

Two community pharmacies situated within a mile of one another in Chester have been sold to a local pharmacy operator.

Pharmacist Aqib Sheikh, who is listed as a director of Walsall-based Ph4rmacy Limited by Companies House, bought Westminster Park Pharmacy on Castle Croft Road and Owen’s Chemist on Chester Street (pictured) which dispense a combined 13,000 items a month.

The two pharmacies trade as Salrook Healthcare Limited of whom Mr Sheikh is also listed as a director by Companies House. Christie and Co, who brokered the deal, said he “plans to enhance the business’s service offering and grow his portfolio in the region.”

Mr Sheikh was appointed as a director of Salrook Healthcare on February 28 this year. Christie and Co announced his acquisition yesterday (April 19).

Salrook Healthcare was owned by pharmacist John Persaud and his family who purchased the pharmacies in 2014. He sold the businesses for an undisclosed price having decided to retire.

“As a family, we are delighted to have completed the sale of the business to Aqib. Whilst we will miss our team who have become like family, it is good to know that the two sites have been acquired by a forward- thinking pharmacist who will enhance the offering to the benefit of the patients and the community which they serve,” said Chloe Yadav, a member of the Persaud family.

David Ward, senior director at Christie Finance who sourced funding for Mr Sheikh, said: “Having previously helped Aqib with the purchase of his first pharmacy, I was delighted to have been able to support him in arranging the finance to acquire these two.

“The purchase process wasn’t without its challenges and demonstrated the importance of using a specialist pharmacy finance broker who has links to the right lenders and managers in the market and can work with them to facilitate the purchase.”

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