Medici Capital Knowledge Base

FRANK SIRIANNI, Management Consultant, MEDICI CAPITAL (www.medici.com.au)

Substantial amendments to the "Pharmacy Location Rules" were announced on Tuesday 27 September 2011. These changes took effect from 18 October 2011. The first applications that can be submitted to Medicare will be heard at the Australian Community Pharmacy Authority (ACPA) meeting on 25 November 2011.

The National Health (Australian Community Pharmacy Authority Rules) Determination 2006, which outlines the current "Pharmacy Location Rules", will be replaced by The National Health (Australian Community Pharmacy Authority Rules) Determination 2011. The Department of Health & Ageing has also issued an updated Applications Handbook which is available on the Department's website.

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What is the capitalization rate for a small country town pharmacy in Victoria?

Following the change in the Pharmacy Location Rules many pharmacists have been concerned that these changes will have a detrimental impact on the value of pharmacies. These concerns have been fuelled by industry rumours also hinting of drops in pharmacy values. However in the majority of cases, I fail to see the correlation between Pharmacy Approval Number values and the value of a pharmacy as a going concern.

As a valuation specialist we are receiving calls from pharmacists inquiring about the changes and impact on valuations. First and foremost, we believe the valuation of going concern pharmacies is not expected to change.

Hello!!! I'm a 4th year pharmacy student at Monash University. As a member of the Victorian Pharmacy Student's Association I have heard about Medici and the services it provides. I am currently undertaking a management assignment that requires us to valuate a community pharmacy. I have decided to use Discounted Cash Flow and Capitalisation of Future Maintainable Profits to help me but have hit a snag! How do i calculate the discount rate and capitalization rates? are there current industry figures that i can use? If so, where can i find these figures?Thank you in advance!