New management for Cathays pharmacy
Cathays-based Woodville Road Pharmacy is set to offer new services to local residents following a change of ownership, which was backed by a business loan from a high street bank.
A chemist in Cathays is set to provide new services following a change of ownership, which was backed by funding from a high street bank.
Rhys Williams, a pharmacist from Cardiff who has worked in chemists across South Wales, purchased Hargrave Pharmacy on Woodville Road in September, after a three-year search to acquire a suitable chemist.
After viewing the 655 sq m pharmacy, Rhys approached his bank’s Healthcare Banking team, which provided a loan to support the purchase of the business.
The bank also introduced Rhys to Kevin Nichols from The Pharmacy Consultancy, who provided specialist advice on the deal and helped Rhys to successfully negotiate with the vendors’ agent.
Now renamed Woodville Road Pharmacy, the business offers medicine use reviews as well as continuing to provide a needle exchange and drugs misuse services.
Rhys has also changed the layout and merchandising of the pharmacy and is set to recruit another member of staff in the coming months.
Rhys Williams said: “I’ve spent three years searching for a pharmacy business in Cardiff, so it’s fantastic to finally serve my customers and be part of the local community.
“It’s really important that Cathays residents are able to access the healthcare services they require, which is why I’m keen to ensure we offer a full suite of treatments.”
The Relationship Manager at the bank said: “With many large pharmacy chains dominating the market, it’s great to see an independent owner such as Rhys building up a strong relationship with the local community and tailoring his services to meet their needs.
“Taking on an existing business can sometimes be more daunting then launching your own venture from scratch, but Rhys is committed to maintaining the ethos of the previous owners, which is to provide high quality healthcare treatments, services and advice.
“Our Healthcare Banking team is here to provide bespoke guidance and funding solutions to small business owners operating in the sector, which often face a unique set of challenges and must operate within strict legislation.”
Kevin Nichols of The Pharmacy Consultancy said: “I’m pleased to have helped Rhys with this acquisition as I believe encouraging young pharmacists to run independent chemists will be vital to the future strength of the industry.”
Rhys added: “My bank’s Relationship Manager, and Kevin, have been a pillar of support throughout the acquisition. It’s a real boost to know you are being backed by a team that fully understands your ambitions and goals for the business and are always on hand to answer any questions.”
