The Saltzman family, renowned South African billionaires and founders of Dis-Chem Pharmacies (Dis-Chem), have witnessed a remarkable surge in the market value of their stake in the retail pharmacy chain and healthcare group. This is attributed to the recent surge in the group’s shares on the Johannesburg Stock Exchange (JSE).
According to market data obtained by Billionaire.Africa, the market value of the Saltzman family’s stake in Dis-Chem has increased by R398.73 million ($21.08 million) over the last 19 days, fueled by renewed investor interest in the group.
Dis-Chem Pharmacies cements retail pharmacy leadership in Africa, market cap hits $1.5-billion mark
Dis-Chem Pharmacies, a leading South African retail pharmacy and healthcare group, has solidified its position as a dominant force in the healthcare industry since its founding over four decades ago by Lynette and Ivan Saltzman. The group offers a diversified range of services encompassing dispensaries, family clinics, wound care clinics, and comprehensive self-medication centers.
Lynette and Ivan Saltzman retain a significant 35.12-percent stake in the Gauteng-based healthcare group. Under their leadership, the company has grown into one of Africa’s largest retail pharmacy chains, boasting over 300 stores and employing more than 20,000 staff members.
Dis-Chem Pharmacies’ shares on the JSE have witnessed a strong surge of 4.15 percent over the past 19 days. The share price rose from R31.79 ($1.6808) on March 6 to R33.11 ($1.7505). This has propelled the group’s market capitalization above $1.5 billion, translating to substantial gains for shareholders.
The Saltzman family’s stake in Dis-Chem rises as shares surge
With the recent surge in the group’s shares, the Saltzman family’s stake in Dis-Chem Pharmacies has surged by R398.73 million ($21.08 million), elevating their stake from its previous valuation of R9.60 billion ($507.60 million) to R10 billion ($528.68 million) at the time of this report.
The $21.08-million increase in the market value of the Saltzman family’s stake in Dis-Chem solidifies their position as significant investors on the JSE, reaffirming their continued influence in South Africa’s healthcare and pharmacy retail space.
