The Zuellig Group Acquires Symbion Pharmacy Services

18/08/2008 12:00:00 AM

The Zuellig Group (“Zuellig”) announced today the acquisition of Symbion Pharmacy Services Pty Limited (“Symbion Pharmacy”). Zuellig, a privately owned group, has an annual turnover of more than US$8 billion and owns and manages a diversified portfolio of industry leading businesses primarily in the Asia-Pacific region. The acquisition of Symbion Pharmacy follows the acquisition of Australian materials handling and equipment business, Powerlift in 2006.

Symbion Pharmacy, the owner of well-known retail brands Chemmart and Terry White Chemists is one of Australia’s leading pharmaceutical wholesalers, offering a comprehensive range of products and services to hospitals and pharmacies nationwide. Symbion Pharmacy employs more than 1,000 people, has annual revenues exceeding A$3 billion1 and has a market share in the supply of pharmaceutical products to Australian pharmacies and hospitals exceeding 30%. Commenting on the announcement, The Chief Executive Officer of The Zuellig Group, Mr William Meaney, said: “We are attracted to the pharmaceutical
distribution sector in Australia having evaluated a number of opportunities in the sector in recent years. Symbion Pharmacy is an outstanding business; its acquisition represents an important step forward towards our goal of further expanding into the Australian market where we are committed to establishing a
long term presence.”

The head of Zuellig’s Healthcare interests in Australia, Mr Christian Stoeckling, added: “We have been highly impressed by the solid financial performance of Symbion Pharmacy in recent years which is testament to the excellent management team and overall employee base. We are committed to working cooperatively with the existing management team to continue to grow the business and capitalise on the strong position Symbion Pharmacy has achieved. “We were particularly attracted by Symbion Pharmacy’s strong focus on customer service which has been a key element in the success of the business and is a high
priority for us.

“We look forward to the opportunity to engage with the Pharmacy Guild and its members and other stakeholders to ensure the ongoing success of the business,” he said.

Zuellig Media release

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