Smiths has acquired TATA’s pharmacy assets, including Smiths Pharmacy, to create TATA Health Holdings, which will be wholly owned by Smiths and will be the retail arm of TATRA Health Holdings.

Smiths Pharmapacy and Smiths Health Care will merge to form TATR Health Holdings and Smith’s Pharmacy will become part of the combined entity.TATRAHealth Holdings will become the retail and distribution arm of the Smiths company, while Smiths will continue to have its current headquarters in Adelaide.TATAHealth Holdings has the right to issue a wholly-owned share in TATA.

Tatum’s assets are:Smiths Pharmaceuticals, a major manufacturer of prescription drugs, as well as pharmacy assets such as Smiths Therapeutics, Smiths Supermarket, Smith’s, Smith and Co. and the Australian and New Zealand Banking Group.

Tata will be an independent entity with its own directors, officers, managing director and CEO, with a board of management consisting of representatives from all relevant parties.