TWC fuels EBOS growth
SIGNIFICANT growth in the community pharmacy sector including the expansion of the TerryWhite Chemmart (TWC) has fuelled a 26.5% increase in revenue for EBOS Healthcare.
The Australian Securities Exchange listed health business, which owns wholesaler, Symbion, reported an underlying net profit after tax (NPAT) of $168.3 million in the 2020 Financial Year, with revenues of $8.8 billion.
In its annual report released this morning EBOS revealed community pharmacy revenue grew by 37.4% in FY20, driven by the improving performance of TWC network and the commencement of Symbion’s wholesale distribution deal with Chemist Warehouse on 01 Jul 2019.
EBOS said TWC recorded 4.1% sales growth, with prescription sales growth of 6% on a like‐ for‐like basis, with technology improvements driving pharmacy gross profit and efficiency.
TWC pharmacies have also administered more than 500,000 influenza vaccinations in the last 12 months.
EBOS noted that the TWC network responded to the challenges presented by the COVID-19 with a robust plan including personalised care for vulnerable and isolated patients, and daily guidance for pharmacy teams.
The company added that while TWC pharmacies “benefited from unprecedented demand during Mar 2020 as consumers stockpiled ethical and over-the-counter products”, they were hit by lower foot traffic in Apr and May, as customers ran down supplies built up earlier in the pandemic.