Walter Lloyd and Son

Origins

The company started in November 1995 when it acquired a long-established pharmacy in Carmarthen dating back to 1850. The following month, the company also acquired a pharmacy outlet in Llanelli. The major challenges faced by the company in its early years was the pressure on the company’s cashflow due to the large loans taken to purchase the goodwill of the businesses coupled with the time delay faced by all pharmacies in receiving payments from the NHS for the prescriptions dispensed. The rapid growth in the company also meant that it was necessary to significantly increase stocks to meet these requirements. This was again funded by borrowings and one of the problems faced was the inability of financial institutions to understand the financial peculiarities of the pharmacy sector.

Success Factor

The first and most important factor contributing to the growth of the company is hard work and dedication shown by the staff, who work as a team and believe in the necessity to provide a quality service. The result of this is that the firm has a large number of satisfied and loyal customers who continue to support the business. The second major factor in the growth of the company was the relocation of the Llanelli outlet into a GP surgery which brought key members of the primary healthcare team together under one roof and enabled the quality of service to be strengthened. The final factor was the diversification of the company into wholesaling. Having obtained a wholesale dealer’s licence from the Medicines Control Agency, the company diversified into pharmaceutical wholesaling and now supplies has a large customer base of over 1000 GP surgeries throughout the U.K.

The Future

The company is looking to expand its wholesaling division by increasing its portfolio of products and services. Walter Lloyd and Sons is also looking at further expansions in the retail division through further acquisitions