zuellig-buys-symbion-pharmacy-business-in-australia

Zuellig buys Symbion Pharmacy business in Australia

The HK-based business group shells out $438 million to add the Symbion Pharmacy business in Australia, owned by Primary Health Care, to its own stable of pharmaceuticals companies.
Hong Kong-headquartered Zuellig Group, a privately owned conglomerate, will acquire the Symbion Pharmacy business from AustraliaÆs Primary Healthcare for A$505 million $438 million.

On behalf of Primary Health Care, Caliburn Partnership ran an auction first for SymbionÆs consumer business and more recently for the pharmacy business. The consumer business realised A$560 million.

The background to the disposals lies in PrimaryÆs A$2.65 billion takeover of Symbion earlier this year. Primary Health Care and Symbion started dialogue in September 2006 when Primary was considering acquiring SymbionÆs pathology business. Primary expressed an interest in an outright takeover of Symbion shortly thereafter but was rebuffed by the much larger Symbion. During 2007 Symbion tried various tactics to stave...
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