Healthcare group PHX Ireland paid \u20ac58 million to acquire the family-owned McCabes Pharmacy group, new financial filings for the company have confirmed.<\/p>\n
McCabes Pharmacy boss Sharon McCabe agreed a deal in 2023<\/a> to sell her network of 31 pharmacies across the State to PHX Ireland, which already operated 82 outlets in Ireland under the Lloyds Pharmacy brand.<\/p>\n New filings by the merged company said PHX Ireland, which is owned by the German-based Phoenix Pharmahandel group, paid \u20ac58 million to acquire McCabe\u2019s business. <\/p>\n The financial statement for the Lloyds Pharmacy business said its network of 81 stores, not including the McCabes pharmacies, recorded sales of \u20ac145.9 million in the year that ended in January 2025.<\/p>\n Government and medical-scheme payments accounted for approximately 52 per cent of turnover, with \u20ac55.7 million generated from the sale of cosmetics and gifts and \u20ac14.4 million from the sale of prescription drugs and medicines to private patients. <\/p>\n The business recorded an operating loss of \u20ac3.2 million compared to an operating profit of \u20ac1.4 million the previous year.<\/p>\n The loss came about due to a large increase in administrative expenses, despite staff numbers falling from 823 to 775 over the year. <\/p>\n Staff pay rose from \u20ac32.5 million to \u20ac36.5 million, while the company also recorded a \u20ac435,000 increase in social welfare costs and \u20ac882,000 in redundancy costs.<\/p>\n The results largely represent the performance of the Lloyds Pharmacy chain as the McCabes Pharmacy outlets were only absorbed into the group in January 2025. <\/p>\n [\u00a0CI\u00c9 group earns \u20ac6.6m profitOpens in new window<\/a>\u00a0]<\/p>\n