IPOS agrees deal for Walsh Pharmacy Group

The Independent Pharmacy Ownership Scheme (IPOS), a division of UniPhar plc, has acquired the Munster-based Walsh Pharmacy Group in a deal thought to be worth up to €55m.

The Independent Pharmacy Ownership Scheme (IPOS), a division of UniPhar plc, confirms it has agreed terms with the Munster-based Walsh Pharmacy Group.

The deal will increase the number of pharmacies in the IPOS Scheme to 105 and is reckoned to be worth up to €55m.

All of the 14 Walsh Pharmacy Group pharmacies are included in the deal with IPOS. In addition, all 155 staff employed by the Walsh Pharmacy Group will be retained.

The pharmacies will become part of the IPOS scheme effective July 1, 2004.

The chief executive of UniPhar plc, Jim Canavan, said that the deal underlined the company’s commitment to the ethos of independent pharmacy ownership in the Irish market.

Founded in 1947 by Jerry and Marie Walsh, the Walsh Pharmacy Group has 14 pharmacies – 11 in Cork city and county, and three in Tipperary.

UniPhar is a leading distributor of healthcare products to community and hospital pharmacies.