Monday 14th February 2011 |
Text too small? |
Pharmacybrands Group is to buy the shares in Radius Pharmacy for $17.1 million, with an assumption of debt of $18 million, subject to net asset and other adjustments.
Pharmacybrands today said the agreement was conditional on the approval of its shareholders, who were expected to meet in late March, and completion of finance arrangements.
Radius Pharmacy holds interests in 34 pharmacies and has annual revenue around $86 million.
Pharmacybrands said Radius Pharmacy would be a strong fit with its existing business, strengthening its ability to invest in systems and other resources to enhance the services to pharmacies operating under its brands.
Retail competition was primarily from other channels and the company must invest in the tools and developing the skills to compete effectively, at the same time as investing in new service opportunities in primary care, Pharmacybrands chief executive Alan Wham said.
NZPA
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes