MedLife (M), the biggest private medical services provider in Romania, has reached an agreement to acquire 75% of the pharmaceutical distribution company Pharmachem.

This is the group's first acquisition in the pharma sector and its largest takeover this year.

Pharmachem has 16 years of activity and operates a country-wide warehouse network. In 2019, the distribution company reached a turnover of RON 83.4 mln (EUR 18 mln), 30% higher than the previous year.

"As we have already told our shareholders, we have continued the acquisition program, and thus we signed a new transaction, this time, in the pharma area. We believe that this segment will have a significant contribution to the economic recovery and the population's health maintenance in the next years," said Mihai  Marcu, CEO and president of MedLife Group.

The group envisages two directions for integrating Pharmachem: optimizing the medicine procurement system at the group level and developing the clickpharm.ro online pharmacy, plus new digitization projects that will bring the right medicines closer to the patients.

MedLife has other ongoing transactions and estimates its turnover will pass the EUR 0.25 bln mark if it completes these deals by the end of this year.

andrei@romania-insider.com

(Photo source: MedLife)