Business Fundamentals Level 2 Webinar

When:
December 5, 2017 6:30 pm – 8:30 pm
Where:
Digital Distribution – Suite 1530 - 1200 West 73rd Avenue, Vancouver BC

In this Level 2 program we will take a deeper dive into some of the key fundamentals related to purchasing or selling a pharmacy. The program outline and topics we expect to cover include the following:

Process – Phil Hauser

  • The importance of a non-disclosure agreement
  • Primary due diligence from the perspective of both the buyer and the seller
  • How to conduct negotiations
  • How to conduct a succession plan
  • Components of a Letter of Intent (LOI) from the perspective of both the buyer and the seller
  • Secondary due diligence
  • Lawyers – what you need from your lawyer?
  • Goodwill – what is it and how do you value it?

Operations – Derek Desrosiers

  • Marketplace considerations
  • Human resources and staffing
  • Financial statement fundamentals
  • Banner versus independent
  • Right of First Refusal (ROFR) Agreements

Due Diligence – Lonny Twarynski - Amenity Health Care

  • Overview of the detailed due diligence process undertaken by a leading Canadian health care company when acquiring a pharmacy

Valuations – Rod MacKenzie

  • Review of the different methodologies for valuating a business
    • Asset based
    • Income based
    • Market based
  • Normalizing income
  • How does a buyer calculate value?

Legal Matters– Pat Madaisky

  • Pros and cons of assets deals versus share deals from the perspective of both the buyer and the seller
  • Purchase agreement fundamentals
  • Lease Consideration

This is a follow-up program to our Level 1 session titled: Business Basics for Starting or Acquiring a Pharmacy: What You Need To Know. It is strongly recommended that you complete that Level 1 program before registering for this new session. You can register for the Business Basics Level 1 program here.

The Speakers

Phil Hauser

Phil is a Succession and Acquisitions Consultant as well as a Certified Business Broker (CBB). Phil has worked directly with Independent Pharmacy owners for last 10 years. Prior to his specialization in this area, Phil was involved as a Director of Business Development and a Consultant for various pharmaceutical wholesalers in Canada and the US. Rxownership.ca is a network Phil has built, which provides the resources where pharmacy professionals at various stages of ownership can find the consultative direction and services necessary to take the next step. As part of working with independent pharmacy owners transitioning out of ownership, Phil has broker deals of various sizes working towards the best possible outcome on behalf of pharmacy owners. The focus of Phil’s business plan is for independent pharmacy to continue to thrive in the Canadian marketplace. Phil believes that pharmacy professionals need to have a clearer understanding of the preparation, planning and process of ownership or ownership transition for positive outcomes.

Derek Desrosiers

Derek Desrosiers is a licensed pharmacist and most recently was the Chief Executive Officer of a Western Canadian pharmaceutical wholesale company. In addition to his business development and management role as CEO, Derek was involved in developing and implementing programs and services for independent member pharmacies that helped to ensure their economic viability and success as well as enhance the professional role of the pharmacist as a member of the health care delivery team.

Derek received his Bachelor of Science degree in Pharmacy from the University of British Columbia in 1982. He has 13 years of experience as a patient care community pharmacist in a variety of pharmacies. Derek has also been a pharmacy manager and owner and was the Director of Professional Services at the B.C. Pharmacy Association (BCPhA) prior to getting into the distribution business. During his tenure as CEO of a pharmaceutical wholesale company Derek led the company to achieve the designation of Canada’s Best Managed Companies for seven consecutive years culminating with the achievement of Platinum membership status in 2012.

Derek is considered an expert in community pharmacy economics and can assist owners with a wide variety of business issues. His company, Desson Consulting Ltd., provides a wide variety of services to retail community pharmacy owners.

Lonny Twarnyski

Lonny Twarynski is Vice President of Corporate Development for Amenity Health Care. He is responsible for new business development through the acquisition process of independently owned pharmacies throughout Canada. With over 30 years of industry experience, Lonny has a proven record of developing organizations into market leaders. Focusing on growth, he has held leadership roles in retail, wholesale and consumer packaged goods in both corporate and co-operative settings.

In his previous role as Director of Business Development for PharmaChoice Western, Lonny contributed in the recruitment of over 350 independent pharmacies joining the co-operative based pharmacy banner. With vast knowledge of the Canadian pharmaceutical and retail pharmacy industry, Lonny has spent a decade interfacing and building strong relationships with the many facets of the industry.

Lonny studied Business Administration at the University of Saskatchewan where he obtained a BAC.

Rod MacKenzie

Rod’s focus is providing Valuations and the creation of Tax Efficient Corporate Structures and Strategies to business owners. The past 13 years have seen Rod specialize and work almost exclusively with independent pharmacy owners in both British Columbia and Alberta.

The vast majority of independent pharmacy owners will rely on their businesses to not only provide them above-average income during their ownership careers but also the necessary succession equity value to retire successfully. Clearly, timely and adequate planning is required and it all starts with a business valuation.

Patrick Madaisky

Patrick has been practicing corporate, commercial and business law in British Columbia since 1989, with an emphasis on health care professionals, including doctors, dentists, chiropractors, and pharmacists. Patrick provides a wide range of services, including with respect to incorporation and corporate reorganizations, employment matters, real estate and leasing, and the buying and selling of businesses.

Sponsors

This event is co-presented by Amenity Health Care and the BC Pharmacy Association.

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Registration Information

This event is $100 for BCPhA members. The fee for non-members is $200.