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 and Valuations – Derek Desrosiers
- Marketplace considerations
- Human resources and staffing
- Financial statement fundamentals
- Banner versus independent
- Right of First Refusal (ROFR) Agreements
- Review of the different methodologies for valuating a business
- Asset based
- Income based
- Market based
- Normalizing income
- Overview of the detailed due diligence process undertaken by a leading Canadian health care company when acquiring a pharmacy
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. If you register for Level 1 and Level 2, we will provide you with a 50% discount on Level 1. You can register for the Business Basics Level 1 program here.
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 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.
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.