NZX NZD$ 1.43 -0.02

27 August 2021 | Announcements

The Warehouse Group invests in ZOOM Health

The Warehouse Group has become a cornerstone strategic investor of ZOOM Health Limited – a health technology company and shareholder in ZOOM Care Limited, an online pharmacy delivering prescription medicine to patients.

The Warehouse Group CEO Nick Grayston says that such a service is crucial for Kiwis, particularly in current times when it is hard to get out to pick up prescriptions, but they can instead be delivered to a patient’s door via contactless delivery.

“We believe that through this investment, we are helping make a difference to New Zealanders’ welfare in a way that provides convenience and affordability.

“We are aware of some medication utilisation challenges in New Zealand and we want to play a part to improve patient outcomes through this partnership.”

Zoom Pharmacy has DHB funding agreements that cover over 3,850,200 New Zealanders and is one of the largest independent pharmacies operating in NZ.

Their proactive, highly personalised pharmacy service is specifically designed to improve medicine adherence rates, a key mechanism advocated by the World Health Organisation to support better health outcomes in disadvantaged populations.

Together ZOOM and The Warehouse Group have a vision to “offer convenient and affordable access to healthcare to all Kiwis”, which aligns to TWG’s purpose of “helping Kiwis live better every day”.

Zoom Health Ltd managing director David Taylor says The Warehouse’s investment will allow the company to expand the use of Zoom Pharmacy technologies to significantly more Kiwis.

“We know that around half a million New Zealanders are not currently enrolled with a GP. Many more Kiwis may be enrolled but have poor access to GP and traditional pharmacy services. The reality is that healthcare has been failing many New Zealanders for years.

“Our new partnership with The Warehouse will provide us with the opportunity to bring an advanced, affordable healthcare solution to potentially millions more Kiwis,” he says.

The Warehouse Group has been working on building a customer ecosystem that leverages its brand strength, store network and customer base.

“We believe that the investment in this promising digital health company will complement our existing offer and our expertise in online retail and distribution.

“We are pleased to be able to support New Zealander’s access to cost-effective medication solutions, and we are excited to provide ZOOM with additional capital and our retail expertise to accelerate Zoom’s growth initiatives,” says Mr Grayston.

Share This
Back to news