Well’s expansion plans approved by competition watchdog
The Competition and Markets Authority has approved the acquisition of Lexon UK’s 44 pharmacies and wholesaling business by Well Pharmacy’s parent company.
In a decision published on Friday August 18, the CMA said it had accepted Bestway’s offer to sell seven existing Well branches in order to assuage competition concerns around the acquisition of the Knights Pharmacy chain.
While the watchdog initially expressed concerns that there could be a “significant lessening of competition” between pharmacies in 12 areas in Liverpool and the North East of England, it is satisfied that the sale of these branches will ward off competition concerns.
Buyers have been found for the affected Well branches, which are located in Seaham, Bishop Auckland, Kenton, High Howden, Stockton, Moreton and Pensby.
Well Pharmacy chief executive Seb Hobbs commented: “We are pleased the CMA accepted our undertakings and that we can now welcome the hundreds of dedicated colleagues in the 44 Knights pharmacies and Chemist.net to the Bestway Healthcare family.
“It’s been a busy few months since we first announced the acquisition and I am hugely grateful to everyone involved for their commitment to making the combined entity a wonderful company.
“We are excited to bring the 44 Knights pharmacies and Chemist.net together with Well, Leon, Medhub, Wardles, Knights Fragrances and Key Pharmaceuticals. We look forward to embarking on our next chapter together, serving more patients, customers and communities throughout the UK.”