Sigma announces $24.5m purchase of Central Healthcare Pty Ltd.
Sigma Pharmaceuticals has just announced an agreement for the purchase of Central Healthcare, with the deal having already received clearance from the ACCC.
The purchase price is $24.5 million, with the potential for a further earn-out payment at 30 June 2015.
Central Healthcare is a wholesaler and distributor of pharmaceutical products to hospitals and retail pharmacies, and also owns and manages the Pharmasave retail brand.
The company is an approved CSO distributor in Victoria, NSW, ACT and Queensland, with annual sales revenue of more than $200 million.
Sigma said that Central Healthcare would continue to operate as a standalone business, and the current CHS and Pharmasave management teams “will continue to be the driving force behind these businesses”.
“This acquisition is strategically important to Sigma as it wil open new avenues for growth,” said Sigma ceo and managing director, Mark Hooper.
“Central Healthcare also provides Sigma with an opportunity to diversify its service offering by establishing an independently operated wholesale and retail channel that can leverage Sigma’s financial strength and national infrastructure to expand and develop new business models to meet the changing needs of the Australian pharmacy landscape,” Hooper said.
More information in tomorrow’s Pharmacy Daily.