Protecting Your Confidentiality When Selling a Pharmacy: The Pharmacy Non-Disclosure Agreement

By Colony RX

When selling your pharmacy, it is important to remember that confidentiality matters, particularly as it involves staff. We understand that in many cases, a pharmacy’s staff do not know that you are thinking of selling.

non-disclosure agreement

Therefore, Colony RX provides potential sellers with an ironclad confidentiality certificate. We typically provide this after we gather very high-level information about the pharmacy, such as the type of pharmacy, script mix and revenue. Once we have this general information, we will request more information and include a confidentiality certificate with the request.

Some people call the pharmacy confidentiality certificate a pharmacy non-disclosure agreement (“NDA”). These are the same thing in all practical respects. In our confidentiality certificates, we make certain promises to potential sellers who disclose private information to us.

These generally include our promise to:

  1. Keep strictly confidential and not disclose any information with respect to the Pharmacy;
  2. Not to make any contact or communicate in any way with any member of the staff of the Pharmacy without the owner’s consent;
  3. To use the same degree of care to prevent the unauthorized disclosure of confidential information as we do to our own similar confidential information;
  4. To immediately destroy any information which has been provided at the seller’s request;
  5. To use any and all information received solely for the purpose of evaluating the acquisition of the Pharmacy

At Colony RX, it is our sincere intention to respect your privacy, and we have never had an issue involving this. We are extremely cautious and sensitive as it involves confidential information, and treat the process with the utmost professionalism and respect. ColonyRX has a superb reputation in the pharmacy community and our adherence to strict privacy controls ensures that your confidentiality will be protected.

Image: eccolo / 123RF Stock Photo

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