NCPA Announces Partnership with Live Oak Bank

By |October 25th, 2010|

October 25, 2010 - The National Community Pharmacists Association (NCPA) is partnering with Live Oak Bank to facilitate the purchasing of independent community pharmacies, an agreement announced during NCPA’s 112th Annual Convention and Trade Exposition. Prospective owners will be able to more easily apply for the large lump sum payments to make these purchases like publicly-traded chain pharmacies (CVS, Caremark, Walgreens, etc.), which have used their considerable resources to purchase many independent community pharmacies.

Traditionally, lending institutions treat community pharmacies like any other small business and offer financial terms that can be a non-starter for prospective owners. By contrast, Live Oak Bank is a lender that recognizes the pharmacist’s earning power and the value of resalable inventory and prescription files.

The award criteria included commitment to community service, recruiting new members, promoting independent community pharmacy, and advocating legislative action. The selection process was difficult with so many chapters distinguishing themselves.

“Independent community pharmacies focus on patient care and a wide-array of services that their competitors cannot replicate, [...]