Nucare Plc has acquired Wakefield Impex Ltd, which owns a warehouse at Stanmore, Middlesex, to form its own distribution arm.
Wakefield Impex supplied toiletries and over-the-counter products to customers located within the M25 area. The 10,000 sq ft warehouse and offices will now be used to service Nucare members throughout the country, supplementing existing services from AAH Pharmaceuticals, Enterprise and Sigma Pharmaceuticals.
Initially, members will receive deliveries from Stanmore within 48 to 72 hours, but Nucare is planning to upgrade systems at the warehouse to improve this.
Mr Veni Harania (managing director, Nucare) told The Journal on April 11 that the warehouse would give Nucare storage space which would allow it to take advantage of occasional purchasing opportunities which arose.
Mr Harania added that the company was working on five- and 10-year plans for its future, details of which would be outlined at its annual conference in June. A share issue, planned to take place in the next two to three months, would raise substantial funds for new investments. Nucare currently has 1,160 pharmacies in membership.