Speculation that Wesfarmers is eyeing telehealth business InstantScripts is another reminder that the retail giant wants access to the health and wellness industry.
Consumers will be able to log on for everything from a doctor’s certificate to dietitian consultations via the grocery giant’s new wellness arm.
Wesfarmers is now the frontrunner to take over the company that also owns the Soul Pattinson Chemist and Pharmacist Advice chains.
The supermarket giant’s chief executive Brad Banducci has sought to allay concerns from pharmacy owners over the company’s bid to acquire Priceline operator API.
Wesfarmers has taken its campaign to win a takeover battle with Woolworths for the Priceline chain directly to pharmacists.
Renewed interest from retailers to buy an Australian pharmacy brand has reopened the question of what the chemist of the future should look like.
Retail giant Wesfarmers appears in pole position to take over pharmaceutical wholesaler Australian Pharmaceutical Industries (API) after sweetening its offer.
Ongoing COVID lockdowns are not expected to stop companies opening the purse strings to pursue acquisitions or return cash to investors via buybacks and dividends.
Shareholders in takeover target API believe it’s likely Wesfarmers will make a higher offer after having its initial bid rejected by the company’s board.
Wesfarmers is hoping to establish itself as a sizable player in Australia’s $20 billion pharmacy industry after a surprise bid for local pharmaceutical retailer API.
Priceline boss Richard Vincent says pharmacy wholesalers are ready to play a bigger role in the distribution COVID vaccines across the country as the national cabinet is considering plans to fast-track the process.