LloydsPharmacy incorporates 70 new pharmacy businesses amid sell off reports
Over 70 new dispensing chemist businesses linked to LloydsPharmacy have been incorporated in the past six months, Companies House records show.
Between November 11 2022 and yesterday (Thursday May 4), 48 new companies were incorporated with a trading name of ‘LP SD’ followed by a number, as well as 23 ‘LP North’ entities. All Companies House listings for these entities describe the nature of the business as ‘Dispensing chemist in specialised stores’ – the standard classification for community pharmacies – and all name Lloyds Pharmacy Limited as a ‘person of significant control’ with ownership of shares and voting rights amounting to 75 per cent or more.
Dominik Muser, a membership of parent company Aurelius’ leadership team based in Germany, is named as a director.
A number of other new entities that appear to be linked to LloydsPharmacy have also been incorporated in the past six months, including LP Online Retail Limited, LP HCS Limited and LP Trademark Limited.
Mr Muser has this year been appointed a director for these new businesses, as well as for entities trading under the names of pharmacy chains that were absorbed by LloydsPharmacy many years ago, such as Savory & Moore, Cross and Herbert and Kingswood GK.
Pharmacy Network News has approached LloydsPharmacy for more information on the new LP entities, such as whether they comprise groups of LloydsPharmacy branches mapped to specific geographical regions, and what the letters ‘SD’ stand for.
PNN also asked LloydsPharmacy to comment on whether the creation of these entities is linked to reports that a large portion of the LloydsPharmacy estate is being sold off now and in the coming months.
In February, PNN revealed that LloydsPharmacy had partnered with pharmacy sales company Hutchings Consultants to sell a “significant number” of branches across Great Britain. Since then there has been national media speculation that the entire LloydsPharmacy estate may be up for sale.
The company responded to PNN with a statement in which it said it was “reviewing its community pharmacy estate and is selectively selling some branches,” adding that the majority of buyers have been “independent pharmacy owners and local businesspeople who have demonstrated their commitment to our branch teams and patients”.
It added: “The LloydsPharmacy team is pleased that its colleagues from these stores will be joining successful, local businesses and that for patients there will be no change in the way they use their local pharmacy.”
Pharmacists employed at LloydsPharmacy have been represented by the PDA Union since a recognition agreement was reached in 2021. PDAU director Paul Day told PNN that “a number of members” had approached the union asking “what the creation of these new ‘LP’ companies might mean for them and their patients”.
Mr Day said the PDAU had urged the company to speak directly to its employees “in order to settle current uncertainty or speculation, and to inform us as the recognised trade union if the corporate plans for these entities have implications for pharmacists’ employment”.