Fortunately, there is an eager new generation of community pharmacists ready and willing to take the reins. Brian Nightengale, President of Good Neighbor Pharmacy explains: “There is a pretty large population of pharmacists who are nearing retirement age, and there is a growing interest among the younger demographic in pharmacy ownership. As a result, there is going to be a big opportunity for a lot of transitions over the next 5 to 10 years.”
This emerging group of pharmacists creates the potential for a lasting legacy of care. Instead of selling their assets or shutting their doors, community pharmacists looking to exit their business have the opportunity to transition to a new independent owner with shared goals. Since this is no easy task, expert assistance and knowledge can make all the difference.
“Going it alone is a challenge, because it is an emotional decision. Once the decision to sell is made, you want it to happen fast. Oftentimes, however, owners are not ready for that because they haven’t optimized the financials of their business to get the best price,” says Nightengale.
Through AmerisourceBergen Pharmacy Ownership Services, trusted acquisition advisors work with independent pharmacies to maximize value and connect them with matched buyers, providing assistance at every step of the complicated process. This helps to streamline the transition and set the pharmacy up for success for many years to come, while ensuring patients continue to receive the care they need.