German healthcare provider PHOENIX group completes acquisition of McKesson companies in Ireland: United Drug, LloydsPharmacy, Median Healthcare and TCP Homecare
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 transaction has now completed. In line with the purchase agreement between McKesson and PHOENIX of July 2021, the transaction includes the McKesson companies in Ireland namely the United Drug, LloydsPharmacy, Median Healthcare and TCP Homecare business entities in addition to companies in Belgium, France, Italy, Portugal, and Slovenia, the European headquarters, a shared service centre in Lithuania, German company Recucare GmbH, and the minority stake in the Brocacef Groep joint venture in the Netherlands.
The acquisition sees the PHOENIX group enter new healthcare markets in Ireland, Portugal, Belgium, and Slovenia, while expanding its existing activities in France and Italy.
As a result of this acquisition, the PHOENIX group now has unique geographical coverage throughout Europe, with a presence in 29 countries, 224 wholesale and pre wholesale distribution centres, more than 45,000 employees, 17,000 partner pharmacies and over 3,200 of its own pharmacies.
This acquisition is the largest in the history of the PHOENIX group and cements its position as Europe’s leading healthcare provider for the sector.
“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”.
Paul Reilly, Chief Executive Officer of McKesson Ireland stated,
“We are excited to join the PHOENIX group, Europe’s leading pharmaceutical wholesaler, pharmacy retailer and healthcare service provider. This announcement will further strengthen our leadership position in Ireland and facilitate greater access to additional products, services, and expertise for the Irish market.
Our number one priority is to continue to serve our customers and patients providing safe, effective, and future-orientated healthcare solutions that make a difference to customers and patients’ lives every day”.