PHOENIX group completes largest acquisition in company’s history

• Full scope of the acquisition of parts of McKesson Europe cleared by competition authorities
• Entry into Belgian, Irish, Portuguese, and Slovenian healthcare markets 
• Europe-wide leading market position expanded 

The PHOENIX group has completed the acquisition of parts of McKesson Europe, following the clearance by competition authorities of the full scope of the transaction. The closing took place on 31 October 2022. In line with the purchase agreement between McKesson and PHOENIX of July 2021, the transaction includes the McKesson companies in Belgium, France, Ireland, Italy, Portugal, and Slovenia, as well as a shared service centre in Lithuania, German company recucare GmbH, McKesson’s European head office in Stuttgart and the minority stake in the Brocacef Groep joint venture in the Netherlands. In its home market Germany, PHOENIX group plans to maintain the Stuttgart location as a further IT hub of the group and to bundle other central functions organisationally at its headquarters in Mannheim.

The acquisition sees the PHOENIX group enter new healthcare markets in Belgium, Ireland, Portugal, and Slovenia, while expanding its existing activities in France and Italy. Following the acquisition, the healthcare provider now has a presence in 29 countries, more than 45,000 employees, 224 sites in the business areas pharmaceutical wholesale and pre-wholesale, as well as more than 3,200 own pharmacies and 17,000 partner pharmacies. Thereby, the PHOENIX group is expanding its position as Europe’s leading pharmaceutical wholesaler, pharmacy operator, and service provider for the pharmaceutical industry.

“With this successful transaction, we are completing the largest acquisition in the company's history. This important step also sets the course for the future”, says Sven Seidel, Chief Executive Officer of the PHOENIX group, adding: “Having a broader geographical and operational base brings us even closer to our customers and patients. We will use our strengthened position to work more intensively on safe, reliable, and future-oriented healthcare for the people of Europe.”

For the time being, the healthcare provider will continue to operate the brands established locally by McKesson Europe in the pharmaceutical wholesale and pharmacy retail business. Thanks to the combined expertise of both companies, all customer groups will benefit from additional products and services in accordance with their local needs.