Second attempt to sell East Anglian Pharmaceuticals
East Anglian Pharmaceuticals (EAP) is to be sold for an undisclosed sum to Phoenix Healthcare Distribution, subject to approval by the competition authorities.
East Anglian Pharmaceuticals operates from a single warehouse in Norwich
and serves customers throughout East Anglia and the surrounding area.
EAP is a family company established over 60 years ago by the grandfather
of the current managing director, Jonathan Briggs.
Phoenix intends the company to continue to operate from its existing
premises and with its current employees. The planned purchase will help
Phoenix fill a gap in its services.
“One of the attractions of EAP to us was the established hospital
business and we would like to expand the geographical reach to offer
more choice
to hospitals in other areas, with supporting distribution services from
other Phoenix depots,” said David Cole, chief executive of Phoenix.
This is the second time in just over a year that such an agreement has
been reached. AAH Pharmaceuticals’s planned
purchase of EAP was
aborted at the end of last year after it was referred to the Competition
Commission because of a feared reduction in competition in areas served
by EAP (PJ, 13 December 2003, p805). |
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