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Pharmacy in consolidation mode: Terry White

TerryWhiteThe pharmacy industry is experiencing the start of significant consolidation, according to Terry White Chemists co-founder and chairman, Terry White.

“The future of pharmacy lies in what we as an industry can do for the health of the nation,” White said in front of more than 500 delegates at the Terry White Chemists’ annual conference in Melbourne this week, understood to be the biggest brand-led conference pharmacy in Australia.

The $1.2 billion Terry White Group now totals more than 220 pharmacies following its acquisition of Chemplus Pty Ltd – the franchise management company for the South Australian Chemplus network of pharmacies.

“There’s significant confidence and that’s underpinned by results in areas that are immune to the impact of industry-specific challenges – there has never been such a great opportunity for the brand,” White said.

White said it had become clear the industry was experiencing the start of significant consolidation.

“A national solution requires a national approach and as we move towards that point it has become clear that more and more pharmacies will need the support of a national retail brand with the right retail infrastructure to move forward.”

He said the consolidation model under which the group acquired Chemplus was one that maximised the benefits of both networks for the pharmacy owners and enabled the business to build quickly on combined capabilities.

White welcomed recent strong retail sales results and said it was a pivotal point in time for pharmacy and the brand.

“We are in a very good position and it’s one that is very quickly gathering momentum,” he said.

CEO, Anthony White, confirmed front of shop profits were showing, strong, consistent growth with above market, like for like pharmacy growth in retail sales for June up 16 per cent.

“Retail sales are powering the network and are supported by the significant investment we have made in retail infrastructure that enables pharmacists to focus on being pharmacists,” White said.

“We’re in the business of health but we are also aggressive retailers.”

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