Following its £620m acquisition by Bestway last October, Co-operative Pharmacy has relaunched under the new name Well.
The launch and re-brand of 780 branches to Well kick-starts a five-year expansion strategy. There is planned capital investment of £40m per annum, with a major recruitment and expansion drive to support the growing demand for primary healthcare services in local communities. Well also plans to acquire more pharmacies and invest in establishing a wholesale pharmacy business.
A further £1.6m will establish a new headquarters in Manchester, relocating 227 staff from the current Co-operative Group head office.
Well aims to increase customer numbers with its enhanced proposition and grow current annual revenues of £750m to £1bn by 2019.
John Nuttall, CEO of Well, said: “Bestway Group’s major investment will not only create new jobs, it will also enable the business to develop the role of the pharmacy team to provide personalised healthcare and deliver an excellent patient experience, improving health and reducing health inequalities in local communities in the process.”
Zameer Choudrey, CEO of Bestway Group, is excited about the roll-out and is confident Well has a bright future. He commented: “We have pledged to give Well Pharmacy strong support by committing to invest £200m over the next five years to help develop and grow the business.”
