Change of ownership
Change of Ownership
When you are selling or buying a pharmacy there are steps you need to take to ensure that you are correctly registered with NHS England and the General Pharmaceutical Council (GPhC).
The steps required depend on whether or not the transaction is an asset sale (sale of the business assets only) or a share sale (sale of the whole company shares).
- You will need to submit a change of ownership application to your Local Area Team.
- The application form can be found here https://www.england.nhs.uk/commissioning/primary-care-comm/pharmacy/market-entry/. The form must be completed and submitted by the buyer, but the seller will also need to sign the form.
- The Local Area Team will usually take a month to determine your application, and as long as there are no changes to or interruption in service provision the application should be granted.
- A 30 day appeal period will then commence which is open to interested parties including nearby pharmacies.
- Providing no appeals are lodged the change of ownership can take place, however the buyer must submit a commencement date form to the Local Area Team giving no less than 14 days notice of the transfer date.
- The whole process usually takes a maximum of 3 months.
- Ideally change of ownership will take place on the same day as legal completion of the pharmacy transaction however this is not always possible so provisions can be made to complete the change of ownership after completion.
- Once the NHS change of ownership takes place the new owner has 28 days to register with the GPhC. The GPhC transfer of ownership and superintendent nomination form can be found here https://www.pharmacyregulation.org/registration/registration-pharmacy-premises/transfer-ownership.
- If you purchase the shares of a company it is not necessary submit a change of ownership application to NHS England.
- You will however need to submit updated fitness to practise information to your NHS England Local Area Team detailing any new directors and the new superintendent pharmacist. The relevant form can be found here http://psnc.org.uk/contract-it/pharmacy-regulation/fitness-to-practice/
- You will also need to nominate a new superintendent pharmacist with the GPhC; the relevant form can be found here https://www.pharmacyregulation.org/registration/registration-pharmacy-premises/transfer-ownership.
For further advice on legal and regulatory matters visit the following organisations;