IL License Defense LawyerFor many people, the American dream is owning your own business. For some pharmacists, that dream involved starting, owning and growing their own independent pharmacies. According to statistics from the National Community Pharmacists Association (NCPA), there were more than 22,000 independent pharmacies operating in the U.S. in 2015. Of those, an estimated 1,000 pharmacies will change ownership each year.

Buying and selling a pharmacy is a different and more complicated process than buying and selling most other businesses. With a pharmacy, you must pay attention to certain things when transferring ownership, such as informing and coordinating with drug suppliers and vendors, ensuring the pharmacy is enrolled as a provider for Medicaid, Medicare, and supplemental plans and various other things. If you are looking to sell your pharmacy, here are a few things you should keep in mind:

Contact an Illinois Pharmacy Sale Attorney Today

When it comes to selling a pharmacy, there are many things you should keep in mind before and during the process. There are many considerations to remember during a pharmacy sale, especially that selling your pharmacy is not as simple as signing over ownership to another person. At the Law Offices of Joseph J. Bogdan, LLC, we have been helping clients successfully buy and sell pharmacy businesses for more than 16 years. One of our skilled Illinois pharmacy sale lawyers is a licensed pharmacist and has extensive knowledge of both the medical and legal fields. Call our office today at 630-310-1267 to schedule a consultation.

 

Sources:

http://www.ncpa.co/pdf/digest/2016/2016-ncpa-digest-spon-cardinal.pdf

https://www.mckesson.com/blog/selling-an-independent-pharmacy/

https://www.drugtopics.com/thoughtspot/tips-selling-or-buying-your-pharmacy