Table of Contents
Key Points
- Sigma Healthcare's market value surged 140% in one year under CEO Vikesh Ramsunder, following a $700 million merger with Chemist Warehouse Group.
- Ramsunder previously led South Africa’s Clicks Group, expanding it to over 800 outlets and boosting market capitalization by 56%.
- Under his leadership, Sigma posted a 50.9% revenue rise to $2.9 billion, driven by higher volumes and efficient supply chain integration.
In the pharmaceutical industry, where success hinges on market share, innovation, and strategic partnerships, few executives have made a leap as impressive as Vikesh Ramsunder. A South African-born business leader, Ramsunder currently serves as the Managing Director and CEO of Sigma Healthcare. Under his leadership, the ASX-listed company has grown into a $20 billion powerhouse, reshaping Australia’s healthcare sector.
Ramsunder’s journey to the top of Sigma Healthcare was far from typical. It reflects a blend of strategic foresight, operational excellence, and a unique ability to scale businesses across borders. Before taking the helm at Sigma in February 2022, Ramsunder spent nearly three decades at South Africa’s Clicks Group, a leading retail and pharmacy chain. His work there laid the foundation for what would become a remarkable career in global business.
A foundation built in South Africa: Transforming Clicks Group
Vikesh Ramsunder got his start in the retail world, where he built a strong foundation in logistics and supply chain management. He joined Clicks Group and steadily climbed the ranks, eventually being appointed CEO in 2019.
Over the course of nearly 30 years—18 of them in senior leadership—Ramsunder helped transform Clicks from a modest pharmacy chain into one of South Africa’s leading retail players. By the time he stepped down in 2021, the company had expanded to more than 800 outlets and 600 pharmacies, reaching millions of customers across the country.
Under his leadership, Clicks saw a sharp rise in value. The company’s market capitalization jumped from R48 billion ($2.48 billion) to R75 billion ($3.87 billion), and its stock price climbed 60 percent. His steady hand during the COVID-19 crisis—focusing on keeping operations running smoothly and putting customers first—earned him widespread respect inside and outside the company.
That kind of leadership didn’t go unnoticed. When Sigma Healthcare began looking for someone who could help guide the company through its next chapter, Ramsunder stood out as the right person for the job.
The leap to Sigma Healthcare: A new era for Australian pharma
Ramsunder’s appointment as CEO of Sigma marked the start of a new era for the company. He wasted no time making bold moves. In July 2024, he led a transformative $700 million reverse merger with Chemist Warehouse Group (CWG), the largest pharmacy retailer in Australia.
This merger, which saw CWG shareholders take an 85.75 percent stake in the combined entity, was approved by the Australian Competition and Consumer Commission in November 2024.
The effects of the merger were immediate. Sigma’s market value has increased by 140 percent over the past one year, signaling strong investor confidence in Ramsunder’s vision. The merger placed Sigma at the forefront of the Australian pharmaceutical sector, offering new opportunities for growth and expansion.
Under Ramsunder, Sigma reported a 50.9 percent increase in normalized revenue for the year ending Jan. 31, 2025, reaching AUD4.8 billion ($2.9 billion). This growth was driven largely by the Chemist Warehouse supply contract, which led to a 40 percent rise in volumes.
Wholesale brands like Amcal and Discount Drug Stores also experienced an 8.5 percent increase in business. Ramsunder’s ability to integrate these operations seamlessly has positioned Sigma as a major player in the Australian market.
Ramsunder’s vision: Operational excellence and global expansion
Vikesh Ramsunder combines deep retail expertise with a strong understanding of global supply chains and healthcare trends. With a B.Com in Logistics and a Master of Business Leadership in Corporate Strategy, he is well-equipped to lead Sigma not only in Australia but on the international stage.
“We’ve executed our strategy to build scale, improve efficiencies, and simplify our operations,” Ramsunder said in a recent interview. “This focus has improved our operational performance, and these results demonstrate the business’s strong foundation. Going forward, we’re committed to integration and delivering long-term value to shareholders.”
Ramsunder’s leadership is focused on creating lasting value. By scaling the business and simplifying its operations, he is setting Sigma up for sustained growth. While the company has made strides in Australia, Ramsunder sees an even greater opportunity for international expansion, with Sigma poised to become a global leader in the pharmaceutical sector.
A symbol of African excellence in global business
Ramsunder’s success story is also a win for African leadership in the global business arena. His ability to navigate South Africa’s complex healthcare landscape and transition smoothly to Australia’s competitive pharmaceutical industry speaks volumes about his leadership and vision.
His compensation of AUD3.38 million ($2.04 million) in 2024 reflects the confidence investors have in his leadership. With a personal stake of 11.66 million shares in Sigma, his commitment to the company’s success is evident. As Sigma continues to grow and reshape the future of the pharmaceutical industry, Vikesh Ramsunder stands at the helm, embodying strategic leadership and global ambition.
From his early days in South Africa to his transformative role in Australia, Ramsunder’s journey is a powerful reminder of how vision and execution can redefine an industry and leave a lasting impact on the global business stage.
