Sigma identifies $100m in cost savings after loss of Chemist Warehouse contract
igma Healthcare has identifed $100 million in annual cost savings and flagged a strong outlook after completing a four-month strategic review following the loss of the Chemist Warehouse contract.
Australian Pharmaceutical Industries’ (API) takeover bid for Sigma also got a boost on Monday when Sigma announced that “high-level due diligence” had started.
“As we announced in December, initial conclusions from Accenture suggested a material opportunity could be realised from restructuring the business,” Sigma chief executive Mark Hooper said. “The program has now identified cost efficiencies over $100 million per annum, which will be delivered over the next 18 to 24 months.” Sydney Morning Herald – Read more…