Nucare and Numark suspend merger talks
Talks on a possible merger between Nucare and Numark, two of the main
marketing support groups for independent community pharmacies, have been
suspended until next year. The merger would produce a group of over 2,000
pharmacies.
Veni Harania, chairman of Nucare, told The Journal that the decision
to suspend the talks had been made after the two companies were told that
it would “not be financially prudent” to merge at present due
to technical difficulties over taxation. The advice came following talks
held after Numark successfully converted to a public limited company this
summer (PJ, 27 July, p121).
“Both parties need to take account of their respective financial
and shareholder positions. We will let some time go by before we look
at this again, probably in the summer of 2003,” Mr Harania said.
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