The South African billionaire Saltzman family — founders of the retail pharmacy chain and healthcare group Dis-Chem Pharmacies — have recorded a substantial $22-million decline in the market value of their joint stakes in the company. This downturn is attributed to the recent drop in Dis-Chem’s shares on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa, the market value of the Saltzman family’s stake in Dis-Chem Pharmacies has decreased by R419.87 million ($22.08 million) since the beginning of the year — reflecting a shift in investors’ sentiment on the JSE.
Dis-Chem shares slump, market capitalization declines below $1.4 billion
Dis-Chem Pharmacies, a retail pharmacy chain and healthcare group based in South Africa, has evolved into one of the nation’s top retail healthcare groups since its inception over four decades ago by Lynette and Ivan Saltzman. The company boasts a comprehensive array of services, including dispensaries, family clinics, wound care clinics, and extensive self-medication centers.
Since the start of the year, the share price of the South African retail pharmacy chain has declined by 4.53 percent — falling from R30.69 ($1.615) to R29.30 ($1.541) — thus pushing its market capitalization below the $1.4-billion mark.
The Saltzman family’s stake in Dis-Chem slumps below $470 million
Lynette and Ivan Saltzman, who own a beneficial 35.12-percent stake in the Gauteng-based healthcare group, have steered it to become one of the largest retail pharmacy chains in South Africa by market share, with more than 300 retail stores and more than 20,000 staff.
Consequently, the market value of the Saltzman family’s joint stake in Dis-Chem Pharmacies has declined from R9.27 billion ($487.70 million) on Jan. 1 to R8.85 billion ($465.61 million) at the time of this report. This translates to a considerable total loss of R419.87 billion ($22.08 million) for the prominent South African billionaire family.
Despite the recent decline in the company’s shares, Dis-Chem Pharmacies maintains its position as one of the key players in South Africa’s healthcare landscape, as it continues to serve millions of customers through its various healthcare services and retail offerings.