A well-established (9 years under current ownership) specialty pharmacy located in the premier medical/hospital area of Manhattan. One block from five major NY hospitals, including NY Presbyterian, Cornell Weill, Sloan-Kettering, HSS, multiple physicians’ offices in the area, ALF and SNF facilities, this business continues to grow rapidly in key specialty pharmacy areas (described below), has a full line front end as well (the location was formerly an HBC store). FYE 12/31/18 showed reported sales of $7.75MM ++. 90% Rx sales. Full store margins of 16.5%++. The store is currently filling 46,000++ Rxs annually (average Rx price of $150.00 due to specialty transplant, psychotropic and HIV meds, limited traditional retail dispensing), growth is due to the addition of new exclusive referral business for transplant and psych business, plus some facility-driven business as well. $150K in highly profitable specialty compounding business included in these numbers. The pharmacy is open from 9-7 M-F, 9-3 Saturday. Front store is open 8:00AM-8:00PM 7 days a week. The store occupies a 1,500 sq. ft. space on the ground floor plus full basement. Current lease has more than ten years left, first five with no escalations whatsoever. NET base rent after subsidies from two sub-tenants is $20,000.00 per month. The required payroll includes 1 FT Phcst, 1 PT Phcst, 2 FT techs, outside marketer, 3 FT clerks, 2 delivery men, PT bookkeeper. All existing personnel are experienced and knowledgeable about the customers and the local market. There is some seller financing available for a creditworthy and qualified buyer with a minimum equity contribution of $600K. This is an opportunity for an experienced pharmacy operator to continue to build on an established and rapidly growing specialty pharmacy business. Current specialty sectors include HIV, transplant, mental health and specialty compounding, for a very specific patient population with less than 10 standard formulas. Continuing increase in facility relationships combined with local sales and marketing efforts can drive this business to $10MM++ in sales in a relatively short period of time. The current owner has not exerted any effort in developing traditional retail pharmacy dispensing, which could add significant sales to this store in a very short period of time. Certain other operational adjustments will increase net profits rapidly.
If interested in this listing, please contact Jack Collins.