Ramsay-Malouf deal ratified

RAMSAY Health Care’s franchise network expansion into community pharmacy took a significant leap forward when it announced it had inked a deal on 10 Aug to add 18 pharmacies across Queensland by acquiring the Malouf Group (PD 23 Aug 17) and now this arrangement has official approval from regulatory authorities.

The deal will be finalised early next month, Ramsay said in a statement.

As previously reported, Malouf’s is presently the largest privately owned pharmacy group in Queensland, employing more than 450 staff with pharmacies across Brisbane and surrounding areas, on the Sunshine Coast and in a range of regional locations including Toowoomba, Gympie, Bundaberg, Rockhampton and Mackay.

Malouf founding partner Richard Malouf said, “We are delighted to see the Malouf Pharmacies come into the Ramsay Pharmacy Franchise Network.

“Ramsay Health Care is a great organisation with a similar vision and culture to our organisation as well as the commitment to delivering excellent healthcare services,” Malouf said.

“We are confident that our pharmacies will be in good hands for the long term and that the health of our customers will come first”.

Ramsay Health Care chairman, Michael Siddle said, “Paul Ramsay was a friend to Richard Malouf and would be very pleased with this deal.

“Ramsay Health Care and its franchisees will maintain the excellent service and culture that has made Malouf Pharmacies one of the most reputable pharmacy brands in Queensland for over 50 years,” Siddle added.

He also confirmed there would be no changes to operations for Malouf Pharmacies at this stage, with rewards programs and current staff kept in place.