23 May 2017

EBOS buys Australian pharmacy provider

4:24 pm on 23 May 2017
Some pharmacies are charging consumers 20 cents to $1 more per prescription than their contract entitles them to.

Photo: 123RF

The listed animal and healthcare products, pharmaceutical, and chemist shop owner is buying an Australian pharmacy services provider, HPS, for $AUS154 million.

HPS provides wholesale pharmacy services to private hospitals, clinics, and prison medical facilities.

EBOS chief executive, Patrick Davies said HPS was an important strategic investment in a market segment with attractive long term growth prospects, and would make the company the leading provider of outsourced pharmacy services in the Australian hospital sector.

"This transaction is part of our ongoing strategic expansion and diversification into areas where we believe there are attractive long term opportunities for our Group."

Mr Davies said the purchase would be paid for from existing debt and would immediately boost earnings in the coming financial year.

The company has built up a reputation for buying businesses and quickly absorbing them into the broader group, while delivering double digit growth in profits

In the past two years EBOS has bought into an Australian pharmacy operator to create the biggest retail chain in that country, acquired several health food supplements makers and suppliers including the well known Red Seal brand, and the Blackhawk animal food company.

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