- Agreement signed to acquire parts of McKesson Europe
- PHOENIX group’s position as an integrated healthcare provider strengthened
- Customers, patients and partners will benefit
Mannheim, 7 July 2021 – The PHOENIX group is planning to acquire parts of McKesson’s European business activities. Both companies signed an agreement for the acquisition of McKesson Europe’s portfolio companies in Belgium, France, Ireland, Italy, Portugal, and Slovenia, as well as the European headquarters in Stuttgart, Germany and the minority stake in the joint venture Brocacef Groep in the Netherlands. The transaction is subject to antitrust approval and other customary closing conditions.
“With this step, we are strengthening the position of the PHOENIX group as an integrated healthcare provider with a pan-European presence and locally well established brands. In the future, we will be able to offer our customers, patients, and partners in Europe even more comprehensive and optimally integrated services,” says Sven Seidel, Chief Executive Officer of the PHOENIX group.
In Germany, PHOENIX will benefit from the skills and experience pooled in the McKesson Europe headquarters, which supports the operations of its subsidiaries. The Germany-based company recucare GmbH is also within the scope of the acquisition. McKesson’s stake in the pharmaceutical wholesale business in Germany, however, is not part of the transaction. In France and Italy, the PHOENIX group is expanding its existing offering with the planned transaction. Moreover, the activities of McKesson Europe in Belgium, Ireland, Portugal and Slovenia complement the portfolio of the PHOENIX group with countries in which it does not yet have a presence. In the Netherlands, the PHOENIX group will take over the 45% minority stake in the successful joint venture Brocacef Groep, currently held by McKesson.
Future-proof core business and digital perspectives
The acquisition takes place against the backdrop of intense competition and increasing margin pressure in the European healthcare sector. At the same time, demographic change and growing health awareness are fuelling the demand for both in-store and digital healthcare services and products. “By expanding our European presence, we are making the PHOENIX group even more resilient to future economic and regulatory changes in the market. This also offers us new opportunities to actively shape the digital transformation of the healthcare sector in Europe for the benefit of patients,” says Sven Seidel.
The PHOENIX group’s existing omnichannel services, which already link the online and offline aspects of the healthcare sector, will be further expanded through the transaction and the digital expertise of both companies for the benefit of customers and patients.
Benefits for customers, patients, and partners
The smooth transition for customers and patients from McKesson Europe to PHOENIX group is of utmost importance. Thus, the PHOENIX group will continue to ensure a reliable supply of medicines.
Patients will continue to benefit from tried-and-trusted advice in the pharmacies of both companies in the future. In addition to the established products and services, independent pharmacies will also have access to new products and services to help them retain and attract customers in-store and online. The offer for partners in the pharmaceutical industry will grow continuously and include a Europe-wide distribution network for efficient and safe supply chains as well as extensive services.
“For over 25 years, the PHOENIX group has proven to be a guarantor for the continuous, safe supply of medicines and health products,” says Sven Seidel. “From the very beginning, PHOENIX has pursued a long-term business strategy in this regard. With today’s announcement, we are opening a new chapter in this success story. This has only been possible thanks to the long established, close relationship with the Supervisory Board and the company’s shareholders and is a vote of confidence and a source of encouragement for PHOENIX’s future development.”
Subject to antitrust approval, the PHOENIX group and McKesson Europe will work on the integration of the relevant business activities in a spirit of partnership at country level and, in doing so, will prioritise the needs of customers.