Charles Russell Speechlys advises Juno Health pharmacy group on its acquisition of the Avicenna Pharmacy group
Charles Russell Speechlys has advised the Juno Health pharmacy group on its acquisition of the entire issued share capital of Avicenna Holdings Ltd, which comprises of 21 pharmacies, as well as Avicenna’s buying group operations and serving more than 1,000 pharmacies.
The transaction proceeded by way of a scheme of arrangement and achieved final completion on 19 September 2019. With this purchase, Juno Health will further establish its position as one of the largest pharmacy chains in the Northeast of England.
Juno Health Chairman Richard Smith said: “Avicenna is a well-established business delivering clear benefits to its members. It is one of the most recognisable brands among independent pharmacists and extremely well respected.”
Juno Health Chief Commercial Officer said “Many thanks to team at Charles Russell Speechlys, whose commercially astute advice has been instrumental in supporting us to deliver our acquisition strategy over the past few years.”
Client Partner at Charles Russell Speechlys, Tim Jenkins commented: “We were delighted to advise Juno Health on this latest acquisition. This was a complex project and involved specialist input not just from our dedicated Pharmacy Transactions team and Corporate Group but also specialists in our Real Estate, Employment, Pensions, Commercial and Tax teams. We wish the Juno team well as they look ahead to continue building on Avicenna’s success and platform of services to its members.”
The transaction was handled by Charles Russell Speechlys’ dedicated Pharmacy Transactions team working in partnership with the Firm’s corporate group and was led by Juno Health’s Client Partner Tim Jenkins, Corporate Partner Mark Howard, Corporate Senior Associate Charlie Ring and Real Estate Senior Associate Michelle Noble.
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