Pharmacybrands is retaining the Radius brand. The Listed banner group (NZX: PHB) completed the acquisition of Radius Pharmacy on 1 April, bringing the number of pharmacies under its wings to more than 300.

The company now represents roughly one-third of the total 942 community pharmacies in the country under five banners, but a lot more in terms of annual pharmacy turnover.

Radius business structure and chief executive Mike Seymour also remain unchanged.

The company has interests in 34 pharmacies and combined annual revenues of $86 million. This brings the number of pharmacies where Pharmacybrands, a primarily franchisee company, holds an equity interest to 68.

Chief executive Alan Wham says the acquisition strengthens the company's position in the pharmacy sector.

"This allows us to extend exclusive ranges and invest in the systems to ensure we can retain our competitiveness against other retail channels," Mr Wham says in a statement released to the stock exchange, adding the company is also developing new professional services to make a broader contribution to primary care.

Bowel cancer screening and flu jabs are among the new professional services being introduced through Unichem, Amcal, Care Chemist, Life and Radius pharmacies.