7 companies owned by South African billionaire Saltzman family

Ivan Saltzman, the renowned South African pharma tycoon, co-founded Dis-Chem Pharmacies in 1978 alongside his wife Lynette. His visionary leadership has driven the remarkable growth of the company over the past 45 years, turning it into a leading retail pharmacy chain in Africa.

Under their guidance, Dis-Chem now operates more than 300 retail stores and employs more than 20,000 dedicated professionals. The company offers extensive services, including linked dispensaries, family clinics, wound care clinics, and comprehensive self-medication centers.

In 2016, Dis-Chem achieved a significant milestone by being listed on the Johannesburg Stock Exchange, solidifying its position as a major player in the industry and opening new avenues for growth.

As the Saltzman family undergoes a leadership transition, their strategic approach ensures a smooth handover of responsibilities while maintaining a shared vision for the company’s future. The sale of shares to key executives underscores their commitment to long-term success and sustainability.

Dis-Chem’s strong foundation and leadership team, along with the Saltzman family’s continued influence, position the company for continued positive contributions to South Africa’s healthcare and pharmacy retail landscape.

Billionaires.Africa has identified seven companies with direct or indirect interests associated with the Saltzman family:

1. Dis-Chem Pharmacies: Established in 1978 by Lynette and Ivan Saltzman Dis-Chem is a leading retail pharmacy group in South Africa, The Saltzman family owns a remarkable 45.2-percent stake in the Gauteng-based group. Dis-Chem operates 165 stores across South Africa, 4 in Namibia, and 1 in Botswana. Dis-Chem offers a wide range of services, including private-label products, online retail facilities, and a loyalty program. Their comprehensive healthcare services encompass linked dispensaries, family clinics, specialized wound care clinics, and self-medication centers, catering to diverse healthcare needs.

2. CT Distribution Centre: CT Distribution Centre is a rental property company, earning R1.97 million ($107,402) in monthly rental income from Dis-Chem Distribution. In January 2022, Dis-Chem acquired 100 percent of CT Distribution Centre, KZN Warehouse Proprietary Limited, and Eleadora Proprietary Limited for R217 million ($11.83 million). The acquisition was deemed a related party transaction since the acquired companies were wholly owned by directors, previous directors, and prescribed officers of Dis-Chem, who also hold shares in the company.

3. Superstrike Proprietary Limited (trading as Baby Boom): In March 2022, Dis-Chem successfully acquired Superstrike Proprietary Limited, also known as Baby Boom, for R23 million ($1.25 million), granting the billionaire Saltzman family an indirect stake. Baby Boom is a prominent South African retailer, specializing in branded baby goods, catering to expectant mothers, newborns, and children up to the age of three. Boasting 23 physical stores and a strong online presence, Baby Boom holds a dominant position in its niche market.

4. Pure Pharmacy, trading as Medicare Health: In October 2021, Dis-Chem acquired Pure Pharmacy, which owned 50 pharmacies operating under Medicare Health. The acquisition, with a final purchase consideration of R245.7 million ($13.4 million), granted the Saltzman family an indirect interest in purchasing 100 percent of the shares and shareholder claims from existing shareholders. This strategic move allows Dis-Chem to access new markets, benefiting from the convenience center locations and underserved regions represented by many of Medicare’s pharmacies. In the financial year ending Feb. 28, 2021, Medicare Health recorded impressive performance, generating R1.1 billion ($60 million) in revenue, with the dispensary segment contributing 67 percent of the total revenue.

5. Baby City: Baby City, a leading retail brand with 33 stores in South Africa, became a subsidiary of Dis-Chem in a R430 million ($23.44 million) deal completed at the end of 2020. As part of its expansion strategy and commitment to comprehensive healthcare services, Dis-Chem intends to introduce specialized antenatal care clinics within Baby City stores, enhancing the range of healthcare solutions available to customers.

6. Kaelo Holdings: Kaelo Holdings is a leading player in the industry, providing benefit-rich gap and primary health insurance products, along with occupational health clinics and the AskNelson psychological well-being platform. In 2021, Dis-Chem strategically expanded its business portfolio by acquiring 25-percent equity of Kaelo Holdings for R195 million ($10.63 million), contingent on Kaelo’s performance hurdles. The strategic alliance with Kaelo which gives the Saltzman family an indirect exposure and strengthens Dis-Chem’s presence in the healthcare sector, creating mutual growth opportunities and synergy.
   
7. Healthforce: Healthforce is a South African healthcare technology company specializing in low-cost clinic management software. By leveraging clinic nurses as essential healthcare providers, they offer an accessible entry point into the healthcare system. Notably, their innovative technology includes telemedicine capabilities, enabling real-time video connections between patients and nurses, with an added benefit of an on-demand remote doctor network. In a strategic move on 1st March 2021, Dis-Chem acquired 87.5 percent of Healthforce for $2.62 million.