European Healthcare Distribution Association / Groupement International de la R├ępartition Pharmaceutique

Market entry in Romania (press release)

20/04/2018

With the market entry in Romania, the PHOENIX group is further expanding its leading position in Europe. The healthcare provider has signed a purchase agreement to acquire the Romanian pharmaceutical wholesaler Farmexim SA and the nationwide pharmacy chain Help Net Farma SA. The acquisition is subject to antitrust approval.

"The Romanian health sector is developing dynamically. The country has been a blank spot in Europe for us so far. With the acquisition, we are able to position ourselves well in this growth market for PHOENIX, "said Oliver Windholz, CEO of PHOENIX Pharma SE, on the acquisition. Farmexim and Help Net are established players in pharmaceutical wholesale and retail in Romania, which are ideally suited to the business model of the integrated healthcare provider PHOENIX. "The corporate cultures of Farmexim and Help Net are in line with our core values as a pan-European family business. We want to successfully develop the business in Romania with the experienced management team, "says Windholz.

Farmexim, founded in 1990 by Ovidiu Buluc, was the first private pharmaceutical pharmaceutical import and distribution company in Romania. The Bucharest-based pharmaceutical wholesaler employs around 800 people. In 2016, the turnover was over 400 million euros. The ten national distribution centers serve around 3,900 customers - with a focus on pharmacies and hospitals. Help Net Farma owns and operates the Help Net pharmacy chain. It is one of the five leading pharmacy chains in Romania with a network of around 220 pharmacies across the country. The approximately 1,600 employees provide a reliable supply of medicines and health products to more than 2.5 million customers every year, combined with high-quality patient advice.

"I am convinced that PHOENIX, as a family business and leading European healthcare provider, will continue the success story of Farmexim and Help Net," said majority shareholder Ovidiu Buluc at the signing ceremony. He emphasized that today's management of both companies will work closely with PHOENIX to ensure successful operations. "It was important to me to hand the companies over to another family business. No one understands better what it means to build a business than the one who has taken that path himself, "concludes Buluc.

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