“In accordance with the provisions of the antitrust law, this transaction represents an economic concentration that needs to be cleared by the Competition Council,” according to Council representatives.
Pharmachem has a history of medicine distribution services of 16 years, with warehouses in Bucharest and throughout the country. In 2019, the distribution company reached a turnover of RON83.4 million, up 30% on the year.
“We have actively pursued our acquisition program and we have now signed a new transaction, this time in the pharmaceutical sector. We believe this segment will have a significant contribution to economic recovery and maintaining the health of the population in the upcoming years. Regarding the integration of Pharmachem in MedLife group, we plan two directions: first, the optimization of the drug procurement system at group level, through MedLife’s own pharmacy network – PharmaLife Med, and the 12 hospitals within the group; and second, the development of the clickpharm.ro online pharmacy area,” Mihai Marcu, CEO and President of MedLife Group, said at the time of the transaction.
MedLife, with a market capitalization of RON1.5 billion, is 16.2% held by Mihail Marcu, 14% owned by Mihaela Gabriela Cristescu and 10.6% held by Nicolae Marcu.
The company reported a turnover of nearly RON1.1 billion in 2020, up 11.5%, and a net profit of RON62 million.