Greenlight will provide the dispensary and professional services requirements and back-office support.
Up to five Greenlight stores will be rebranded and developed under the joint venture’s first phase, with the option to include more stores if proven successful.
The first site set to be transformed will be in Hoxton St, northeast of the city of London.
Sigma Healthcare has also acquired a 75% stake in the company, with the remaining 25% continued to be held by Greenlight. No figure was given for Sigma’s stake in the company.
Sigma Healthcare chief executive and managing director Vikesh Ramsunder said international expansion was just one of its four key strategic growth pillars.
“Having proven that the Chemist Warehouse model resonates with customers in other markets, including New Zealand and Ireland, the JV with Greenlight now provides a measured market access into the UK,” Ramsunder said.
Greenlight Healthcare was one of the first to introduce the concept of a teaching pharmacy, in conjunction with the UCL School of Pharmacy, London.
This features a purpose-built lecture theatre beneath the pharmacy, where students observe a range of cutting-edge consultations via CCTV and interact with customers. The model has since been adopted in a number of countries.
O’Donoghue confirmed to the Herald that Sigma Healthcare became aware there was already a long-standing Australian/New Zealand presence in the UK, which knew the market, describing it as “a natural coming together”.
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
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