What is Pharmacy Transfer Consulting?
PRS’s Transfer Consulting handles every aspect of transferring ownership which benefits both the buyer and seller of a Pharmacy:
- Assists with Pharmacy Licensing procedures
- Provides specific directions and guidance to help coordinate the pharmacy acquisition
- Helps to maintain Pharmacy compliance with state, federal and other rules and regulations during the transfer phase.
- PRS is available to advise and consult with legal counsel on pharmacy-specific items to ensure a smooth and efficient ownership transfer.
Can’t a Pharmacist do this on their own?
Definitely! But is it worth the risk? Simple mistakes can cost tens of thousands of dollars and delay opening by months! For something you’re likely to do only once in your lifetime, it’s best to let PRS put your mind at ease and handle everything to make the transfer as smooth as possible. We’ve done HUNDREDS of transfers, so having our experience on your side means you gain these advantages:
- Ensure continuation of existing State and Federal Licenses and Permits
- Prevent interruption of third-party insurance agreements
- Guidance and paperwork to allow utilization of the current owner’s third party contracts
- Agreement for the forwarding of insurance reimbursements to the buyer while using the seller’s contracts
- Comprehensive overview of the seller’s business operation, allowing the buyer to move forward in confidence
- Power of Attorney agreements regarding Controlled Substances
- Compliance and regulatory Program Evaluation
- Purchase Agreement Consultation (non-legal)
- PRS will engage in discussions with attorneys regarding specific aspects of transferring a pharmacy
- Sample wording for these pharmacy-specific items can be provided to your attorneys
What is Pharmacy Valuation?
Valuation is one of the most important things to consider when buying or selling a pharmacy:
- Value of a business is tied to the expectation of future earnings and cash flow.
- A financial model rewards owners for the historical cash flows they have built and shows a potential buyer the proven gross revenue potential.
- Banks use a financial model focused on cash flow when consider a loan request from a buyer.
- Many Independent Pharmacies have diversified revenue streams and earnings need to be valued, not simply on revenue and prescription counts.
- A financial model focused on EBITDA and NOI with a multiplier most fairly values the business.
Our Pharmacy Valuation will ensure both the buyer and the seller are getting a fair, unbiased review of the Pharmacy’s performance.
How Can PRS Help With Pharmacy Licensing?
PRS can help you with all areas of licensing. Our experienced advisors will walk you through the steps, including, but not limited to:
- Assisting with Interpretation and Conforming to State Board of Pharmacy Rules and Regulations
- Securing state Pharmacy License
- Meeting with State Inspector when Required
- Directing procurement of Mandatory Pharmacy Equipment, Fixtures and Supplies
- Passing State Board of Pharmacy Inspection
- Meeting Federal and D.E.A. Licensing Requirements and secure D.E.A. Registration Permit(s)
- NCPDP & NPI Application Processes
Why Should I Use PRS?
Our Pharmacy Acquisition staff will provide the information, services and support necessary to plan and execute the transfer. Crossing every t and dotting every i, ensuring you have an error-free transfer. We’re sticklers for the details.
What if I’m not sure if I need this service?
Whether you’re thinking of buying or selling, EVERY situation is different and our experts can give you the answers you’re looking for. Contact us today to discuss your options.Contact Us Today to Learn More