(Adds details of deal in paragraphs 2 and 4, quote in paragraph 3, Bailador's stake sale in paragraph 5)
June 13 (Reuters) - Australian retail giant Wesfarmers (WES) said on Tuesday it would acquire telehealth business InstantScripts for about A$135 million ($91.17 million) to expand its presence in the digital healthcare sector.
InstantScripts, one of Australia's top medical clinics, will subsequently be a part of Wesfarmers' health division. Wesfarmers will buy the business via its unit Australian Pharmaceutical Industries.
"The proposed acquisition would add a substantial presence in the growing telehealth sector to the division, aligning with its broader focus on digital health," Wesfarmers Health Managing Director Emily Amos said in a statement.
Richard Skimin, the chief operating officer of InstantScripts, will lead the business under a new ownership structure, Wesfarmers said.
In a separate statement, fund operator Bailador Technology (BTI) said it would exit InstantScripts, realising A$52 million in cash. ($1 = 1.4808 Australian dollars)
(Adds details of deal in paragraphs 2 and 4, quote in paragraph...
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$1.18 |
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Mkt cap ! $175.3M | |||
| Open | High | Low | Value | Volume |
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