NewsBite

Australian Pharmaceutical Industries

October 2024

Ed Bostock has been tapped as a new partner at Anchorage Capital.

Anchorage shops at Wesfarmers Health for new hire

Wesfarmers Health’s chief financial officer and private equity hotshot Ed Bostock is set to join Anchorage as a managing partner

  • Sarah Thompson, Kanika Sood and Emma Rapaport

July 2024

Architects buy Wesfarmers executive’s Cottesloe mansion

Wesfarmers heavyweight Ed Bostock has sold the family home in Cottesloe following his appointment as CFO of the conglomerate’s health division.

  • Bonnie Campbell

August 2023

Wesfarmers boss Rob Scott says the group’s largest divisions, Kmart and Bunnings, performed particularly well during the year.

Wesfarmers profit tops expectations, even in slowdown

Wesfarmers boss Rob Scott said the group’s largest divisions, Kmart Group and Bunnings, are perfectly placed to capture share in a tougher environment.

  • Updated
  • Carrie LaFrenz
Stuart Giles and Cathie Reid are starting a new hospital pharmacy venture with Chemist Warehouse.

Rich Listers, Chemist Warehouse in ‘game changer’ pharmacy plan

Queenslanders Cathie Reid and Stuart Giles are teaming up with the retailing giant with the aim of building a “game changer” network of chemists inside hospitals.

  • Carrie LaFrenz

July 2023

Wesfarmers CEO Rob Scott in his office in Perth. He stands in front of Wanapati Yunupinu art piece titled “Gurtha”.

Why leaders with big egos worry Rob Scott the most

The Wesfarmers CEO started work as a sailing instructor. He went on to win an Olympic rowing medal, marry an Olympian and run a $56 billion company. Oh, and he wants his staff in the office.

  • Carrie LaFrenz
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June 2023

Wesfarmers health managing director Emily Amos says healthcare is a $220 billion sector.

Wesfarmers and Woolworths healthcare forays trigger GP alarm

Wesfarmers and Woolworths are following global retailers into pharmacy and telehealth, fuelling cash-for-care concerns in the medical profession.

  • Sue Mitchell
Wesfarmers CEO Rob Scott speaks at the annual strategy day in Sydney on May 30.

Rates, wages play havoc on Wesfarmers. Can it survive the storm?

Between the company’s investor day on Tuesday and the Fair Work Commission’s retail award decision on Friday, last week was a busy one.

  • Carrie LaFrenz

May 2023

Wesfarmers new MD of health unit Emily Amos will need to better the $3.15 cash offer for Silk Laser.

Wesfarmers bid for Silk Laser spoiled by Hong Kong minnow

Hong Kong-listed EC Healthcare has offered $3.35 all cash for Silk Laser Australia topping Wesfarmers’ offer of $3.15 cash per share.

  • Carrie LaFrenz

April 2023

Wesfarmers’ wholly owned Australian Pharmaceutical Industries pitched its offer at $3.15 a share.

Silk Laser in $169m buyout talks with Wesfarmers’ API

The API parent will offer $3.15 a share for Silk Laser Australia and has the support of investor Wilson Asset Management.

  • Vesna Poljak

December 2022

Woolworths-backed HealthyLife is buying the non-retail assets, including key technology and a warehouse, of SuperPharmacy, an online pharmacy specialist with six stores that has operated for more than 20 years.

Woolworths makes further push into pharmacy

Just one day after announcing a half billion deal in the pet sector, the grocery giant has made a small move further into health and wellness.

  • Carrie LaFrenz
Wesfarmers loyalty scheme OnePass and Disney+ have reached a new partnership deal.

Move over Amazon Prime, here comes Wesfarmers-Disney

The giants in retailing and streaming have come together in the OnePass loyalty program’s first outside partnership.

  • Carrie LaFrenz

September 2022

Emily Amos is the new MD of Wesfarmers health division, where she is in charge of integrating API – the owner of Priceline Pharmacy.

New Wesfarmers health boss plans for growth

Emily Amos is just five months into the top job at what will one day be $10 billion division for the WA-based conglomerate.

  • Carrie LaFrenz

August 2022

Long-serving API CEO Richard Vincent has stepped down, and will remain an advisor to Wesfarmers.

Wesfarmers names head of API after CEO steps down

The new boss of Wesfarmers’ health division is now in charge of its only asset: the drug wholesaler and owner of the Priceline chain.

  • Carrie LaFrenz

March 2022

Ed Bostock has been taped as the new CFO of Wesfarmers health division.

Wesfarmers taps Ed Bostock as new health unit CFO

After leading the company’s purchase of API, Mr Bostock will also help lead the integration of the conglomerate’s newest division.

  • Carrie LaFrenz
Wesfarmers CEO Rob Scott’s “cat-herding” skills will be put to the test by the API acquisition.

Wesfarmers to test ‘cat-herding’ skills with API

Wesfarmers has finally won its eight-month campaign for control of Australian Pharmaceutical Industries. Now the real battle begins - winning the confidence of almost 1400 franchisees and independent pharmacists.

  • Sue Mitchell
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Wesfarmers’ $1.55 all-cash bid (less dividends) for API was as good as won by Wednesday night, with investors voting in favour.

Wesfarmers courts API boss after snaring control

Richard Vincent will ensure continuity in the business after shareholders of the owner of Priceline Pharmacy backed the takeover by the WA-based conglomerate.

  • Carrie LaFrenz
Wesfarmers $1.55 for API had as good as won by Wednesday evening, with investors including Investors Mutual crossing over to a ‘yes’.

Investors Mutual votes yes at API, Wesfarmers win sealed

API’s larger shareholders have come around to the idea of Wesfarmers buying the company for $1.55 a share.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Wesfarmers CEO Rob Scott is halfway there with winning API shareholders ahead of March 17 vote.

API’s early voters happy to take Wesfarmers’ offer

Australian Pharmaceutical Industries’ early voters are happy with the offer, despite an eleventh-hour push for a bump.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
API is worth more than Wesfarmers’ bid, according to Investors Mutual fund manager Simon Conn.

API investor seeks last-minute boost from Wesfarmers

Investors Mutual says the conglomerate’s $1.55 bid should include the fully franked special dividend.

  • Carrie LaFrenz
API is worth more than Wesfarmer’s bid, some investors reckon.

API shareholders in eleventh hour push for a higher bid

Some API shareholders think Wesfarmers’ bid for API is too low.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood

Original URL: https://www.afr.com/company/api-7a