EBOS Group has announced that it has entered into a binding agreement to acquire HPS, Australia’s largest provider of outsourced pharmacy services to hospitals
HPS has undergone transformational growth over the past five years to become Australia’s largest provider of outsourced pharmacy services to hospitals, with 580 staff across 100 sites.
EBOS is already the largest Australasian marketer, wholesaler and distributor of healthcare, medical and pharmaceutical products. This $154 million acquisition will now also see it take market leadership in pharmacy services to hospitals.
“We have been impressed by the strong growth that HPS has achieved over recent years driven by their proven ability to provide outstanding service and build long-term relationships with their clients,” says EBOS CEO Patrick Davies.
“We are delighted to have entered into this agreement, which highlights the strategic importance of this channel, our strengths and mutual aspirations in the hospitals market.
“The acquisition of HPS both complements and extends our existing Australian hospital business and provides us with a new platform for expansion.”
Adelaide-based HPS has more than 40 years’ experience in the provision of services to health facilities, offering tailored and responsive services. It has contracts with a number of private hospital groups, correctional facilities, oncology and fertility clinics.
The key management of HPS will continue to operate the business and will also form part of EBOS Group’s Institutional Healthcare business division.
“This agreement with EBOS represents the next exciting step in our evolution,” says HPS CEO Tony Wyatt.
“EBOS Group is a leader in pharmaceutical distribution, and their market intelligence and expertise will enable us to further innovate our service delivery models while maintaining an absolute focus on tailored support for our clients.
“Everything we do is about ensuring the highest quality care to patients, and that’s a philosophy we share with EBOS.”
Subject to certain conditions, the transaction is expected to complete within a matter of weeks.