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April 26, 2007
VC-Backed DocMorris Acquired By Pharma Disti Celesio
Online pharmacy DocMorris has been acquired by Stuttgart-based Celesio, a more than one hundred year old pharmaceutical wholesaler and retailer, as well as sector IT solutions provider, for an undisclosed amount.
The founders of the seven year old company retain 10 percent of the company, while early investor Neuhaus Partners, along with 3i and Hg Capital, find the exit.
Based in the Netherland but active in Germany, DocMorris is a success story despite having had to tangle with regulatory issues and resistance from pharma retailers in its markets. It did €178 M in turnover in 2006, up 18.8 percent from what it did in 2005. It claims 800,000 Kunden customers and 330 employees. The company was profitable in 2006 too. It fulfulled 1.9M prescriptions.
The company had been bandied about as an IPO candidate, so the offer from Celesio must have been a good one.
Posted on April 26, 2007 06:48 PM | Posted to News And Updates | Permalink
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