Medici Capital Articles http://www.medici.com.au http://www.medici.com.au/articles/42/why_do_i_need_a_business_valuation.html A Business valuation is the process applied by a qualified valuation expert to determine the fair market value of an owner's interest in a business. As a current or prospective pharmacy owner, a business valuation will provide you with an analysis of the pharmacy's value along with the strengths and weaknesses inherent in the business. The purpose of this article is to identify the concepts behind valuation in pharmacy as well as the reasons why a valuation would be conducted. http://www.medici.com.au/articles/42/why_do_i_need_a_business_valuation.html 20/05/2008 Medici Capital Articles http://www.medici.com.au/articles/41/tech_review_-_mobile_devices.html For some time, I have been asked by pharmacists as to the use of "these Blackberry devices". This is shortly followed by the phrase; "should I get one?". So I thought I would take this opportunity to discuss some developments in the mobile industry, including some information on the gadgets coming to market in the coming months. Make sure you read this before buying any Christmas presents! http://www.medici.com.au/articles/41/tech_review_-_mobile_devices.html 18/12/2007 Medici Capital Articles http://www.medici.com.au/articles/39/pharmacy_ownership:_generational_change.html As with many major business changes, an unexpected event creates an opportunity which drives the required fundamental and lasting change. http://www.medici.com.au/articles/39/pharmacy_ownership:_generational_change.html 04/09/2007 Medici Capital Articles http://www.medici.com.au/articles/38/succession_planning:_maximising_financial_and_personal_satisfaction.html With a significant number of current pharmacists estimated to be over the age of 50; the next ten years will bring about many challenges for pharmacy. The consequent change of owner to a younger generation of pharmacists will, without a doubt, expose the value of succession planning. For many, a succession plan enables the protection of assets and use of business equity to formulate and implement a retirement strategy. http://www.medici.com.au/articles/38/succession_planning:_maximising_financial_and_personal_satisfaction.html 25/07/2007 Medici Capital Articles http://www.medici.com.au/articles/33/section_1_-_it_in_your_personal_life.html A colleague and I presented recently at the Pharmacy Snow Business Conference held at Mt Buller and posed a question to the participants: "How many of you know the specifications of your personal computer (PC), either at home or at work?" To my surprise and amazement, one person in the entire room raised their hand. From that point, my discussion changed course from advancements in Information Technology (IT) to UNDERSTANDING YOUR I.T. http://www.medici.com.au/articles/33/section_1_-_it_in_your_personal_life.html 06/03/2007 Medici Capital Articles http://www.medici.com.au/articles/34/section_2_-_it_in_your_professional_life.html A colleague and I presented recently at the Pharmacy Snow Business Conference held at Mt Buller and posed a question to the participants: "How many of you know the specifications of your personal computer (PC), either at home or at work?" To my surprise and amazement, one person in the entire room raised their hand. From that point, my discussion changed course from advancements in Information Technology (IT) to UNDERSTANDING YOUR I.T. http://www.medici.com.au/articles/34/section_2_-_it_in_your_professional_life.html 06/03/2007 Medici Capital Articles http://www.medici.com.au/articles/35/section_3_-_it_and_what_is_around_the_corner.html A colleague and I presented recently at the Pharmacy Snow Business Conference held at Mt Buller and posed a question to the participants: "How many of you know the specifications of your personal computer (PC), either at home or at work?" To my surprise and amazement, one person in the entire room raised their hand. From that point, my discussion changed course from advancements in Information Technology (IT) to UNDERSTANDING YOUR I.T. http://www.medici.com.au/articles/35/section_3_-_it_and_what_is_around_the_corner.html 06/03/2007 Medici Capital Articles http://www.medici.com.au/articles/30/pharmacy_market_risk_report_launched.html Critical questions in the pharmacy lending policies of the banks and what might be considered appropriate risk management in their setting of interest rates were examined in the recent Medici Capital's 2007 Pharmacy Market Risk Report. http://www.medici.com.au/articles/30/pharmacy_market_risk_report_launched.html 17/01/2007 Medici Capital Articles http://www.medici.com.au/articles/29/kick_start_to_2007.html Now that 2006 is over, let us look to 2007 to decide the outcomes for the coming year and beyond. Now is the time to set aside some time to analyse where you are, how you are going and what you still wish to achieve. This article hopes to assist you in understanding what you should be looking at. http://www.medici.com.au/articles/29/kick_start_to_2007.html 12/01/2007 Medici Capital Articles http://www.medici.com.au/articles/28/pharmacy_partnership.html Due to increasing business size and value, and the need for succession planning, owners with viable businesses are seeking "junior" partners to join them. Likewise up and coming pharmacists wish to own larger businesses. http://www.medici.com.au/articles/28/pharmacy_partnership.html 21/11/2006 Medici Capital Articles http://www.medici.com.au/articles/27/buying_and_selling_a_pharmacy.html With all the challenges and uncertainty pharmacy still faces, and the pressures on profitability, why are the prices pharmacies are selling for still so high? Security, we had with previous agreements, is not there. There is also significant unease in market place - across all pharmacy sectors; community, aged care, hospital, wholesale, and manufacturers. This article reviews the warning signs and provides tips for current and prospective pharmacy owners. http://www.medici.com.au/articles/27/buying_and_selling_a_pharmacy.html 04/10/2006 Medici Capital Articles http://www.medici.com.au/articles/26/pharmacy_federal_budget_briefing_2006.html On May 10 Medici Capital hosted a Pharmacy Briefing Dinner in Melbourne with Guest speaker Kos Sclavos (National Guild President). The night was attended by a large select group of individuals ranging from Pharmacy associations, and media to prominent pharmacists as well as senior executives of the major Banks, wholesalers and generics manufacturers. The evening, held only one day after the federal budget was released, was to address the Impact of the Federal Budget on Pharmacy, and Generics in Pharmacy. In addition to Kos's presentation Frank Sirianni provided a formal introduction and briefing before presenting the Pharmacy Economic Update. http://www.medici.com.au/articles/26/pharmacy_federal_budget_briefing_2006.html 03/10/2006 Medici Capital Articles http://www.medici.com.au/articles/25/finance_watch_the_warning_signs.html Whether investing in new pharmacy or managing your existing pharmacy, there are a number of warning signs which signal the importance of getting the right balance of equity and debt in your pharmacy financial structure. http://www.medici.com.au/articles/25/finance_watch_the_warning_signs.html 29/09/2006 Medici Capital Articles http://www.medici.com.au/articles/2/buying_a_pharmacy_-_is_now_the_right_time.html Pharmacy affordability, if you don't do your homework, can be very low. That is, the amount of profit used to repay the average pharmacy loan has now reached almost 100%. All of the profit is going to pay debt and interest - and that's before taxes! http://www.medici.com.au/articles/2/buying_a_pharmacy_-_is_now_the_right_time.html 04/08/2006 Medici Capital Articles http://www.medici.com.au/articles/4/is_the_glass_half_empty_or_half_full.html After the 30th June this year, the new five-year Guild-Government agreement was meant to take effect. With agreements still continuing and a proposed three-month extension, it seems the cloud of confusion, the war of words and the blanket of uncertainty will continue to linger around the industry. While the ensuing agreement had been hailed as a "make or break" moment for the industry, for the average pharmacist, there has never been a time to be so cautious in any pharmacy investment decision. Even if de-regulation regarding the supermarket issue is not approved, it seems minute changes to rules restricting ownership, location, services and pricing could have detrimental effects to a pharmacy's bottom line. http://www.medici.com.au/articles/4/is_the_glass_half_empty_or_half_full.html 05/07/2006 Medici Capital Articles http://www.medici.com.au/articles/5/are_you_ready_to_buy.html PLEASE NOTE reference to websites http://www.medici.com.au/articles/5/are_you_ready_to_buy.html 05/07/2006 Medici Capital Articles http://www.medici.com.au/articles/10/freestyle_look_at_overseas_pharmacy.html The 2003 Pharmacy Study Tour to Switzerland highlighted some interesting aspects about both Australian Pharmacy as well as our European counterparts. One of the special guest speakers was very complementary about Australian Pharmacy and how it had assisted in refocusing Swiss Pharmacists. He also said "we need to take a freestyle approach to pharmacy (like skiing) and take control of health as well as the current 'sickness' market in which we operate". http://www.medici.com.au/articles/10/freestyle_look_at_overseas_pharmacy.html 05/07/2006 Medici Capital Articles http://www.medici.com.au/articles/18/medici_express_-_indicative_valuations.html Have you ever wanted to check the value of your pharmacy? http://www.medici.com.au/articles/18/medici_express_-_indicative_valuations.html 05/07/2006 Medici Capital Articles http://www.medici.com.au/articles/19/is_anyone_listening_be_alert_when_purchasing_a_pharmacy_-_part_two.html Don't pay the seller for what you bring to the table! http://www.medici.com.au/articles/19/is_anyone_listening_be_alert_when_purchasing_a_pharmacy_-_part_two.html 05/07/2006 Medici Capital Articles http://www.medici.com.au/articles/20/is_anyone_listening_be_alert_when_purchasing_a_pharmacy_-_part_one.html Despite the numerous threats and pressures facing pharmacy, Goodwill is and remains at an all time high. By any measure the cost of pharmacy ownership is high and the payback period greater than in recent history. So too are the associated risks of pharmacy ownership. http://www.medici.com.au/articles/20/is_anyone_listening_be_alert_when_purchasing_a_pharmacy_-_part_one.html 05/07/2006 Medici Capital Articles http://www.medici.com.au/articles/15/pharmacy_it.html It is estimated that Australian pharmacy spends in excess of $29 million per annum on IT and computers (ignoring hardware costs). What are the outcomes from this investment? http://www.medici.com.au/articles/15/pharmacy_it.html 04/07/2006 Medici Capital Articles http://www.medici.com.au/articles/1/medici_capital_provides_specialist_services_for_pharmacy.html Medici Capital has revolutionized the way financial and advisory services are provided to pharmacists throughout Australia. http://www.medici.com.au/articles/1/medici_capital_provides_specialist_services_for_pharmacy.html 27/06/2006 Medici Capital Articles http://www.medici.com.au/articles/17/value_and_price_-_are_they_the_same.html PLEASE NOTE reference to websites I am often asked what's the difference between value and price?  Surely, the value is what someone is willing to pay for the business! Or is it?  And, does the difference justify the investment or matter? While the pharmacy market is relatively efficient at setting realistic purchase prices for pharmacy, some areas of the market are poorly managed.  In these areas, the market is not efficient. Clients are often confused when a valuation figure is far less than the asking price or price paid.  As a result of favourable demand conditions, the current prevailing trend is that the seller's asking price often includes an 'acquisition premium.' http://www.medici.com.au/articles/17/value_and_price_-_are_they_the_same.html 01/08/2005 Medici Capital Articles