Bova financial pact
June 26, 2014
NSW-based pharmacy group
Bova has formed a joint venture
with financial services firm Zedius,
which provides “white knight”
funding to pharmacies which are
struggling financially.
Zedius says that with the “perfect
storm” currently facing Australian
pharmacy, it offers an alternative to
receivership and insolvency.
“Receivers try to pick up the
pieces but they rarely have the
specialist expertise to run a
pharmacy as a going concern,” the
company said.
The joint venture will see Zedius
utilise Bova’s expertise in retail
and compounding pharmacy,
with its “unique model of
supplier management, inventory
rationalisation, targeted marketing
and cost-saving initiatives.
“As a compounding pharmacy,
Bova also has access to a niche and
lucrative market that is immune
from PBS price cuts,” according to
Bova Compounding md Nick Bova.
Zedius targets “debt acquisitions”
mainly through relationships it
already has with banks, suppliers,
franchisors and other creditors, but
can also receive inquiries directly
from pharmacists facing difficulties
- for more information call Jared
Zak on 0449 773 105.
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