Symbion bidders move to reassure pharmacy chain owner Terry White
Wednesday, 7 May 2008
Potential bidders for Symbion’s assets have phoned Terry White chemist founder Terry White to ease pharmacists’ fears about their fate under new ownership.
The Terry White pharmacy chain contributes revenue of $350 million to $400 million a year to parent company Symbion.
White last week told The Australian Financial Review that some potential bidders had not contacted him and were “ignorant and arrogant if they believe they can move into the health-care sector without negotiating with people who are running the pharmacies”.
White today told the AFR that all bidders had since contacted him and were keen to discuss their proposals with pharmacists once they had proceeded to due diligence and were free of confidentiality agreements currently in place.
Potential bidders include Ironbride and Archer Capital (jointly), Metcash and Sigma (jointly) and Australian Pharmaceutical Industries.
Inside Retailing