Chemist + Druggist | Published: 30th August 2022
Under the deals, Alitam will become a shareholder in each new pharmacy business it invests in, it clarified.
Business owners can decide to use the funding as they please, for instance to invest in their workforce, systems, and processes, Alitam announced last week (August 26).
“In return, Alitam becomes a shareholder and ongoing investor in the pharmacy,” it explained.
The pharmacy group – better known for its ambitious plan to create a chain of “super pharmacies” focusing on disease prevention and clinical services – has claimed that more than 400 pharmacies across the UK and Ireland have enquired about joining the business.
The group currently owns approximately 100 pharmacies, but has previously revealed its intention to buy 50-100 pharmacy stores each year for next five years to reach its goal of 500 high street premises.
C+D understands that Alitam is currently in the process of selecting the new pharmacies that will join its group.
CEO Feisal Nahaboo, who founded the company in 2020, claimed that the chain’s “like-for-like turnover has increased by an impressive 24% since [its] inception”.
Meanwhile, former Avicenna group executive director Bharti Patel, who joined Alitam’s executive board in March, will work to “reduce costs” for all new pharmacies joining the business.
“As we gain more and more attention for our work, more and more pharmacies are applying to join us – or else face being left behind in a fragmented market,” Ms Patel said.
Earlier this month, the group announced that it had agreed terms to merge with clinical service provider PharmaDoctor in an unspecified “seven-figure” deal.
Just a week later, it unveiled a “transformational” merger agreement with clinical skills training provider MHRx.
Alitam Group
7th December 2020
We’re all incredibly proud to see Kalpen Patel, one of our extraordinarily talented pharmacists based in North London, dominating the headlines as he administers Sir Keir Starmer’s booster jab.
Feisal was born to do things differently. Growing up on a council estate in Bracknell, there was never any doubt in his mind that he’d transform something, someday. “I was always looking at things in a different way to everyone else,” he says. “I could see, even then, that people tend to stick to the same way of doing things.” He smiles, “My instinct was always to turn things on their head, to creatively spin ideas in my mind and see what happens. You suddenly free up possibilities, it’s like you take the brakes off and can power forward.”
As a young man, it became very clear to Feisal and those around him that the corporate world was the right home for this unique drive. At the tender age of 27, Feisal took the leap of faith to leave employment with an intent to disrupt and innovate the accountancy sector. He began self employment by working from his 3-bedroom ex council house. Just affording a £5k deposit (and borrowing legal transaction fees from his parents), he purchased his first small home in 2002 and began industry disruption from his own bedroom. He invested just £450 on second hand goods including a desk, fax machine, printer and a very dated laptop. Within weeks, his marketing systems were working effectively and he was engaging thousands of accountants into seminars where he began a career of motivating, influencing and directing substantial change in the accountancy sector.
A short animated story showing Feisal’s story so far. His journey all started from the back of an ex council house with just £5k of savings.
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