It is the group’s largest acquisition this year and its first in the pharmaceutical sector.
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,” said Mihai Marcu, CEO and President of MedLife Group.
Once the transaction is completed, Pharmachem’s management will be led by the current shareholders, who have the right know-how to properly manage this business and to accelerate its growth.
The deal requires antitrust clearance and once approved, MedLife group will strengthen its leading position in the private healthcare market.
“For us, it is a great opportunity for expansion and development, because we will join a solid and complex organizational structure governed by a market-leading company. We have big plans for next year and we are confident that together with MedLife we will be able to achieve the proposed objectives,” said Mihai Tirli, general manager of Pharmachem.
For the next period, MedLife intends to develop its acquisition program and expand investments.
“The current business structure, which integrates many business lines, has helped us not only to overcome the crisis period, but also to pay attention to market opportunities. We are also targeting other transactions at the end of this year. And, on this line, once the named transactions are completed and the current transaction is evaluated and approved by the Competition Council, we will be the first private medical company in Romania to exceed a quarter of a billion euros in turnover,” said Marcu.
Through the acquisition of Pharmachem Distribution, MedLife group reaches a portfolio of 28 acquired companies.