Wesfarmers is bolstering its health offering by buying telehealth start-up InstantScripts for $135 million.
The sale will be done through Wesfarmers-owned Australian Pharmaceutical Industries, and adds a “substantial presence” to the Perth company’s Wesfarmers Health division.
“Over recent years telehealth has emerged as an important service, complementing the care delivered through GP practices, pharmacies and other allied health providers,” Wesfarmers Health managing director Emily Amos said.
InstantScripts CEO Richard Skimin will continue to head the business, while Bailador has exited its holding in InstantScripts, selling its stake for $52 million in cash.