Ep 22 - Beyond the Price Tag: Hidden legal pitfalls in pharmacy transactions скачать в хорошем качестве

Ep 22 - Beyond the Price Tag: Hidden legal pitfalls in pharmacy transactions

In this episode podcast, host Sarah Stoddart discusses the critical legal considerations involved in pharmacy business transactions, especially around contracts. She emphasises the significance of thoroughly reviewing contracts before signing, as many buyers and sellers often rush into agreements without a clear understanding of the implications. Sarah outlines three main areas that can significantly impact the success of a pharmacy transaction: 1. Customer Accounts and Loyalty Programs 2. Employee Interviews and Retention 3. Nursing Home Contracts Stoddart warns that while buyers often focus on major aspects like purchase price and lease terms, the nuanced details surrounding customer relationships, staff retention, and contracts with third parties are equally crucial for a successful transaction. She strongly advocates for seeking quality legal and accounting advice to avoid pitfalls associated with poorly drafted agreements. A thorough and well-considered contract provides both parties with confidence and can streamline the transaction process, potentially reducing costs as well. In summary, careful attention to the often-overlooked elements of pharmacy transactions, along with comprehensive legal guidance, can help pharmacy owners navigate their sales and purchases effectively and avoid common headaches down the line. Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which provides small business owners and healthcare professionals across Australia with clear legal pathways and peace of mind. She is recognised as a leader in the healthcare industry and is one of only a few lawyers in Australia with specialist experience working with pharmacy businesses.  In 2021, Sarah was named the Lawyers Weekly Women in Law Australian Sole Practitioner of the Year. She was also named as a finalist in the AusMumpreneur Business Awards. In 2022, she was named as a finalist in the Women in Business Awards for The Hills and Districts Chamber of Commerce, the Australian Law Awards and again in the Women in Law Awards.  Sarah is the co-author of business book, “Courage and Confidence”. The book is a collection of inspirational stories combined with practical tools, tips and advice written by a small group of Australian women in business.  She is also a non-executive director of MS Queensland. www.vitalitylawaustralia.com Instagram: @vitalitylawaustralia Facebook: Vitality Law Australia LinkedIn:   / sarah-stoddart-23b92240