Join Independent Rx for a panel discussion that explored techniques to maximize your cash at closing when you are selling your pharmacy.
Topics to be discussed include:
– Costs that will lower your take home
– Factors that drive up the value and ultimately the cash at closing
– Importance that planning the sale has on take home amount
The panel answered questions from attendees as well.
Meet the Panel
Partner, Independent Rx
Owen is 2nd generation (his father Mark BonDurant, IRx Chief Consultant) in the pharmacy business and has worked in independent pharmacies all his life. His pharmacy experience includes almost every role an independent pharmacy has to offer from cleaning bathrooms, working as a pharmacy technician to starting, marketing and running a durable equipment company and of course being the founder of Independent Rx.
Owen graduated from Miami University of Ohio and has a degree in marketing and a minor in management information systems (MIS). Over the past 18 years he has started two companies, sold enterprise software to major retail organizations and helped start or acquire over 100 pharmacies.
Tim Clark R.Ph
Partner, Independent Rx
Tim graduated from the University of Cincinnati with a BS in Pharmacy in 1991. Tim has worked in his family pharmacy since he was 15 years old. He has been a stock boy, delivery driver, pharmacy technician, floating pharmacist, pharmacy manager, and pharmacy owner. He has experience working as an independent, and spent most of his college career working for Walgreens.
Shortly after graduation he came back to work at the family business making him a 3rd generation pharmacist and later a pharmacy owner. In 1997, he took over the family business, Clark’s Pharmacy, which at the time was a 3 store chain, as CEO and President. Upon taking over he grew the business, through acquisition and start-ups, to 10 retail sites. Then he strategically sold 7 of the stores and rebuilt the business to 15 retail locations plus long-term care and compounding pharmacies, through acquisition and opening stores from scratch. Through his career Tim has owned, purchased, and started over 30 stores. He understands the pressures of owning, buying, and selling. He has also helped start Independent Rx Consulting, and has helped over 100 individuals become owners like himself. Today, he owns 3 pharmacies.