The demand for optical goods and services (from both a healthcare and fashion perspective) is well established in the UK. Even during these challenging times, consumer spending in the optical sector remains valued at around £3bn.
The independent optical market remains an exciting and diverse place to operate. In order to succeed against the large multiples, online providers and the emerging technology savvy players the independent optical market must begin to think more commercially, more to the future and more ‘outside the box’.
Never has there been a better time to engage with a legal partner who are specialists in the optical health sector.
The nature of the optical health industry in the UK sees practices operate within specific guidelines and regulations for the different aspects of the service they provide this makes some corporate processes different to those applied to businesses within other sectors and industries.
Farleys’ corporate team are specialists in healthcare-related transactions and experienced solicitors for opticians. Farleys’ understand the specific legal nuances relating to the operation of optical health practices and any legal transactions before and after, including the buying and selling process.
Whether you are looking to sell a private or NHS opticians practice for financial reasons or as part of a retirement and succession planning; or are purchasing an opticians practice as a first-time buyer or part of a portfolio, timely and specialist legal advice is vital in ensuring you consider all of the necessary aspects of the sale or purchase.
Instructing an optical health specialist solicitor to identify and discuss any potential legal issues prior to and during the sale or purchase process will reduce the risk of costly disputes, disruption, delays and unanticipated fee increases further down the line.
Our legal experts can assist with the drafting, negotiation, and straightforward legal advice on matters including:
-
Due diligence
-
Pre-sale agreements
-
Confidentiality agreements
-
Deposit agreements
-
Exclusivity agreements
-
Sale and purchase agreements
-
Managing post-sale liability of the seller through warranties
-
Non-compete restrictions
-
Partnership agreements
-
NHS General Ophthalmic Services (GOS) Contracts
- Mergers and acquisitions of complementary businesses (glazing, audiology, chiropody etc.)
-
TUPE business transfers
-
Locum agreements and contracts of employment
Farleys can advise on particular types of sale and purchase including share sales and purchases, asset sales and purchases, practice incorporation, partnerships, and buying or selling into a franchise.
As a full-service law firm, we also have specialist teams who can advise on any related property, employment, or commercial litigation matters that arise during the sale or purchase such as lease agreements, employment contracts, or disputes.
We understand the need for confidential and diligent advice and have an excellent reputation for providing our legal expertise with a down to earth approach; cutting out the legal jargon and getting transactions completed professionally and in a timely manner.
