The Guardian view on Boots: sick staff, a healthcare business and the public purse | Editorial

The Guardian view on Boots: sick staff, a healthcare business and the public purse | Editorial A recent Guardian report into Boots shed light on what happened after private equity invaded the high street. The reaction from medical professionals attests to the human toll, and the costs to the taxpayer

A week ago, the Guardian published a Long Read on Boots, a piece which has provoked an extraordinary reaction. A flood of letters from pharmacists that shows no sign of stopping. Strong concern voiced by medical professionals, from GPs to the Royal Pharmaceutical Society. And the watchdog compelled to step in, so that, remarkably, Britain’s biggest pharmacy now faces the prospect of a regulatory investigation.

Our investigation reported a series of allegations from Boots’ own staff, as well as independent experts. We uncovered evidence that a senior manager at the chain was pressuring employees to milk NHS schemes for cash. Pharmacists suggested that professional ethics were being sacrificed for the sake of profit, and spoke of working conditions that threatened patient safety. All this appeared to stem from the business model adopted by Boots after its £11bn private-equity buyout in 2007. To pay back billions in loans, and to make their required returns, the investors pursued a model of “stretch and extract”: stretching finances and staff to the limit – then extracting profits. Continue reading... The Guardian