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The Rich List newcomers who found success through chemistry and fate

The Rich List newcomers who found success through chemistry and fate

Founders need to know when it's time to go, say the partners in life and business who have just changed direction after making a fortune.

Carrie LaFrenzSenior reporter

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Key Statistics

  • 1952020 Rich List ranking
  • $550 millionNet wealth

If there was a year that was especially challenging in the adventures of Cathie Reid and Stuart Giles, partners in life and business, it was 2007.

One of their companies, which owned hospital pharmacies, had lost 60 per cent of its revenue after its biggest customer, Ramsay Health Care, opted to bring operations in-house. Reid and Giles pivoted by buying more pharmacies and also committed to building a factory to make medication dose products.

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Carrie LaFrenz
Carrie LaFrenzSenior reporterCarrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com

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Original URL: https://www.afr.com/rich-list/the-rich-list-newcomers-who-found-success-through-chemistry-and-fate-20200917-p55wlq