Adds 121 pharmacies to network.
Sigma Pharmaceuticals Limited has purchased Discount Drug Stores (DDS) for $26.7m, adding 121 pharmacies to its network.
DDS would sit within Sigma’s subsidiary, Central Healthcare Services (CHS), itself purchased earlier in the year and which operated as a stand-alone business, the company said.
Combined, CHS and DDS was expected to add more than $400m in new revenue, Sigma said.
The acquisition was funded from existing cash resources, Sigma said.
It was a “natural fit” which broadened Sigma’s customer profile, Sigma ceo and md Mark Hooper said.
“When combined with our brands in Amcal, Amcal Max, Guardian, Pharmasave and Chemist King, along with our recently announced 10 year wholesale and service agreement with Pharmacy Alliance, Sigma now has a broad and extensive suite of options to support all pharmacists.”
Sigma said the current DDS team would remain with the business.
See tomorrow’s Pharmacy Daily for more.