Gerald Letendre, RPh Sarasota Compounding Pharmacy
Acquisition Date: December 2024
When I sold Sarasota Compounding Pharmacy, I was fully prepared for the typical tactics—lowball offers, last-minute price reductions, and long, drawn-out negotiations. In fact, two years earlier I had been approached by a large venture capital group. Their offer was significantly below market value, and beyond that, they intended to relocate the pharmacy out of the Sarasota area. This would have caused major disruptions for patients and would have left my long-standing employees without jobs. They also attempted to renegotiate several key points beyond the terms outlined in their initial letter of intent. It was a frustrating experience that ultimately went nowhere.
In contrast, working with Ramin was a refreshing and professional experience. From the outset, we had a clear and respectful understanding—a handshake agreement on the key terms, including price, staffing, and continuity of service. While his attorney later attempted to revisit some of those terms, Ramin personally stepped in and made it clear that he intended to honor what we had originally agreed upon. He did not try to nickel and dime the transaction and remained committed to fair dealing throughout.
Ramin recognized the importance of keeping the pharmacy in its current location, retaining staff who wished to stay, and preserving the brand I had built over 17 years. That level of respect and continuity meant a great deal to me—not just as a seller, but as someone who cared deeply about the patients, staff, and reputation of the business.