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South African billionaire Saltzman Family, the renowned founders of the esteemed retail pharmacy chain and healthcare group Dis-Chem Pharmacies, have recorded a substantial gain in recent weeks from their stake in the leading healthcare retail group.
According to stock market data, the market value of the Saltzman family’s stake in Dis-Chem Pharmacies has increased by R776.36 million ($41.42 million) over the past 17 days, attributed to the recent upward trend in the Dis-Chem shares on the Johannesburg Stock Exchange (JSE).
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 Feb. 19, Dis-Chem Pharmacies shares on the JSE have increased by 10.6 percent, rising from R29.05 ($1.549) on Feb. 19 to R32.13 ($1.714) at the time of writing. The recent surge in the company’s share price has pushed its market capitalization above $1.4 billion.
Presently, Lynette and Ivan Saltzman hold a beneficial stake of 29.3 percent in the Gauteng-based healthcare group, which boasts over 300 retail stores and employs more than 20,000 staff members.
Thanks to the recent upswing in Dis-Chem’s shares, the Saltzman family’s stake in Dis-Chem has surged by R776.36 million ($41.42 million) since Feb. 19, elevating their holdings from R7.32 billion ($390.63 million) to R8.1 billion ($432.04 million).
This significant increase in the market value of the Saltzman family’s stake in Dis-Chem further solidifies their position among South Africa’s wealthiest families, underscoring their enduring influence on the nation’s economic landscape.
