Wizard Pharmacy has engaged Ernst & Young Strategic Advisors Australia to assist in acquiring a strategic growth investor to support the expansion of the Wizard Pharmacy brand across Australia.
The group is Western Australia’s largest independent retail pharmacy network with established beachheads in the Northern Territory and South Australia.
In conjunction with its new growth investor partner, Wizard Pharmacy aims to grow its network from the current 41 pharmacies to 100 across Australia by 2027.
The strategic alliance presents a valuable opportunity for a potential investor to take an equity position in a thriving business and growth industry expected to reach a market size of $26.1b by 2028.
Wizard Pharmacy Chief Executive Officer Lyndon Dyson said he was excited to initiate this paradigm change and was sure potential investors would see the value of investing with Wizard and its scalable platform.
“I have really been amazed by the positive industry response to the Wizard information memorandum and have already received many applications for further information.
“Feedback from the industry indicates a significant escalation in the anticipated value of our franchise partners’ pharmacies.
“With a strong brand name and market footprint, we have a proven growth model supported by powerful industry tailwinds.
“Our integrated business platform and full-service model drive our strategy implementation and promote pharmacy growth and profitability, providing best-in-class systems and attractive economics,” he said.
Wizard Pharmacy operates on a unique equity share model and believes this next tactical phase will escalate the value for its franchisees.
“We are not wholesaler-owned, so this growth strategy will directly benefit our franchisees and the interest they hold in the brand.
We’re excited by the opportunity this next stage presents to significantly increase value, not only for the company and our new investor partner but also for our individual franchisees,” Mr Dyson said.
Ernst & Young Strategic Advisor Division is currently accepting expressions of interest in this investment opportunity until 21 November 2022.
