DOCMORRIS SOLD TO CELESIO
[BIZ: London/Heerlen April 26] In recent years, the financial investors together with the DocMorris management team have made focused investments to accelerate the company’s growth. In particular, they supported DocMorris in expanding its business model from a pure mail-order business to include pharmacy business. Today, DocMorris has around 850,000 mail order customers. The company, which has 330 employees achieved a 16 per cent rise in sales last year to EUR 172m; further strong growth in 2007 is expected. Thus, within the space of only seven years since start-up, DocMorris has become an established player in the pharmaceutical sector.
European private equity companies 3i and HgCapital along with venture-capital investor Neuhaus Partners are selling their stakes in mail-order pharmacy DocMorris, domiciled in Heerlen in the Netherlands. The buyer is Celesio AG, Europe’s largest pharmaceutical distributor, which will become the majority shareholder in DocMorris. The company’s management will continue to hold a stake of just under 10 per cent in DocMorris. The transaction is expected to close at the end of May. The purchase price is being kept confidential.
http://www.3i.com/