What happens when an Independent gets bought out?

[Ackj]

CVS recently bought out an independent in the next town over. Store did decent business, I know a few people who would catch some per diem shifts now and then. So what actually happens? The records, rx files, and probably inventory all become property of the local CVS, but then what? I'd assume the original owner who sold out would have a non-compete clause, but what about other pharmacists? Could someone else open the place back up and probably retain a large share of the business?

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[BenJammin]

CVS recently bought out an independent in the next town over. Store did decent business, I know a few people who would catch some per diem shifts now and then. So what actually happens? The records, rx files, and probably inventory all become property of the local CVS, but then what? I'd assume the original owner who sold out would have a non-compete clause, but what about other pharmacists? Could someone else open the place back up and probably retain a large share of the business?

I work as relief for an independent pharmacy and if they sold out to a chain with a no compete, I have no incentive to obey a contract I didn't sign.

 

[confettiflyer]

Chain would own all the Rx's and customer list. Nothing prevents the owner/employee from opening a new pharmacy and try to get all the old customers back. Unlikely the chain purchased the independent's IP. Rx site license would need to be initiated as new since a pharmacy sale/closure likely dissolves the entity.

FYI in California, non-compete clauses are illegal/non-enforceable.

 

[confettiflyer]

I work as relief for an independent pharmacy and if they sold out to a chain with a no compete, I have no incentive to obey a contract I didn't sign.

You couldn't be vicariously party to a non-compete agreement, anyway.