Who in healthcare made it to Australia’s rich list?

3 minute read

Every year The Australian publishes its list of 250 Aussies who share of a collective $591.31bn in wealth. See who made it from the healthcare space.

Healthcare has landed more than 10 Aussies into the much-anticipated 2024 edition of The Australian’s list of our 250 richest people.

Pharmacy led the list in the healthcare space, with Chemist Warehouse co-founders, brothers Jack and Sam Gance taking 38th and 39th positions with a combined wealth of $3.26 billion. Their co-founder Mario Verrocchi made it to number 53 with a fortune of $2.66 billion.

The List – Australia’s Richest 250 – includes 20 people aged 40 years or younger. Mining magnate Gina Rinehart is Australia’s richest person, with a fortune of $50.48 billion.

Other healthcare sector businesspeople to feature on the list include:

  • Anthony Hall, co- founder of Pro Medicus: Number 51 ($2.69 billion). Pro Medicus pioneered secure email and digital systems for doctors in Australia, finding success in the provision of radiology imaging software and services. Pro Medicus now gets more than 85 per cent of its revenue from the US and has grown to be a circa $10 billion ASX-listed giant. Mr Hall maintains an executive role and large shareholding.
  • Sam Hupert, co-founder of Pro Medicus: Number 52 ($2.66 billion). A former Melbourne GP, Dr Hupert met Mr Hall at a wine tasting event in 1983 and they went into the health tech business together. He also maintains an executive role and large shareholding in Pro Medicus.
  • Dennis Bastas, chairman and chief executive of DBG Health: Number 88 ($1.63 billion). Mr Bastas quietly last year completed a $1 billion private debt deal to merge his Arrotex Pharmaceuticals with Juno Pharmaceuticals last year, forming DBG Health. He previously owned half of both with Canadian investors but now owns the entire combined entity, which is Australia’s largest generic drug maker.
  • Imelda Roche, founder of Nutrimetics Australia and owner of the Roche Group: Number 107 ($1.44 billion). Ms Roche and her late husband Bill made their fortune from the Nutrimetics business they introduced to Australia in 1968 and later expanded around the world, before buying out the company’s US founders, before selling in 1997. They later branched out into property development projects and tourism holdings.
  • Sam Prince, founder of retail and healthcare company Zambrero: Number 128 ($1.19 billion). Mr Prince founded Zambrero in 2005 as a 21-year-old medical student in Canberra with $16,000 savings. It now has more than 250 outlets in Australia, New Zealand, the US, UK and Ireland. His other investments include beverage brand Shine and Next Practice, a cloud-connected chain of medical centres.
  • Michael Boyd, chairman of Jayex Technology: Number 183 ($797 million). Mr Boyd has been involved in the health services platform Jayex since its inception in 2014. He also has a large shareholding in pathology group Sonic Healthcare, and a stake in Silex Systems.
  • Toby Browne, founder of PharmaCare: Number 226 ($638 million). Founded in 1985, PharmaCare sells nutrients, vitamins and healthcare products from brands like Nature’s Way, Sambucol and Bioglan at chemists and supermarkets around the world. Last year it added protein ball maker Bounce to its portfolio, and the overall business generates annual revenue of more than $500 million. About two-thirds of that is from Australia, with about $100 million coming from sales in the US, Europe and the UK.
  • Adam MacDougall, founder of Cranky Health: Number 227 ($635 million). The former rugby league star founded his nutrition company in 2011 with his wife Belinda, with its flagship product the Man Shake meal replacement program. He has also written books about exercise and nutrition. Private Equity Partners made a $400 million investment in the business in 2022.

See the full list here.

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