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The deal is expected to be finalised in early December 2017.

Malouf’s is one of Australia’s leading pharmacy brands and is the largest privately owned pharmacy group in Queensland, employing more than 450 staff.

Ramsay Health Care is the largest private hospital operator in Australia with 73 facilities located throughout the country. The Ramsay Pharmacy Franchise Network is expanding and is on track to be circa 55 retail pharmacies once current contracts are completed.  These pharmacies are providing a base for the provision of medication management and other integrated care services to patients of Ramsay, beyond the hospital walls.

Both organisations have a long history of providing quality healthcare services to Australians, commencing in business over 50 years ago.  Malouf pharmacies commenced with their first pharmacy under founder Richard Malouf, in Queensland in 1962 and Ramsay Health Care commenced operating hospitals under founder Paul Ramsay in 1964. The strategic fit of the organisations and the proximity of the Malouf pharmacies to Ramsay’s Queensland hospitals, was critical to the finalisation of the deal and will ensure a smooth transition for all stakeholders.

Malouf founding partner, Richard Malouf said: “We are delighted to see the Malouf Pharmacies come into the Ramsay Pharmacy Franchise Network.  Ramsay Health Care is a great organisation with a similar vision and culture to our organisation as well as the commitment to delivering excellent healthcare services.  We are confident that our pharmacies will be in good hands for the long term and that the health of our customers will come first”.

Ramsay Health Care Chairman, Michael Siddle said: “Paul Ramsay was a friend to Richard Malouf and would be very pleased with this deal.  Ramsay Health Care and its franchisees will maintain the excellent service and culture that has made Malouf Pharmacies one of the most reputable pharmacy brands in Queensland for over 50 years”.

Ramsay Health Care has confirmed there will be no real change to operations of the Malouf Pharmacies at this stage.  Ramsay, as franchisor, has committed to maintaining the Malouf rewards loyalty program to the same great benefit of customers and Malouf employees will have the opportunity to continue working in the Malouf Pharmacies after the transition takes effect.