SG Court Pharmacy Group has been acquired by Paydens Limited
The private shareholders of SG Court Pharmacy Group (SG Court) have sold the company to Paydens Limited for an undisclosed consideration.
Established in 2004, SG Court has grown strategically through acquisitions, and now runs a chain of 21 pharmacies in key locations predominately across Kent, Sussex and Surrey. SG Court has a highly attractive pharmacy footprint and operates modern premises from strategic locations, with an established and loyal customer base. The SG Court pharmacies will continue to provide comprehensive healthcare services to the communities they serve, supported by Paydens’ wider geographical reach and distribution channels across the region. Growing competition among pharmacy groups, combined with recently announced government funding cuts, has encouraged recent consolidation amongst pharmacy groups. The combined business will have a total network of 129 pharmacies, enabling further economies of scale and allowing distribution to be centrally controlled in one geographical location.
Paydens is a leading, independently-owned pharmacy company that also includes a pharmaceutical wholesaler and a small care home group within its portfolio.
Dennis Pay, Managing Director at Paydens Limited, commented: “We are very pleased to have found such a complementary match in SG Court, a company we have long admired. The firm operates a successful chain of pharmacies and has a strategic geographical presence in the south east of England that complements our own. SG Court has an impressive track record and has successfully grown the business against the backdrop of a challenging economic environment and government funding pressures on community pharmacies. We look forward to welcoming SG Court to the Paydens family and to integrating its business operations into our growing network of pharmacies.”
Oaklins Cavendish, based in the UK, advised the seller in this transaction. The team's healthcare specialist commented: “We are delighted to have advised the shareholders of SG Court and to have found in Paydens the right buyer to continue to develop the network and continue its reputation for customer focused service. This acquisition will see SG Court and Paydens unlock significant synergies from their complementary geographical reach, improve pharmacy efficiency and deliver high quality patient services. SG Court and Paydens are both recognized names in the pharmacy industry and the acquisition by Paydens presents an exciting opportunity for continued growth. The competitive landscape of pharmacies has changed over the past decade, and we believe that further cuts to NHS funding will result in further consolidation in the industry.”
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