Successful Deals with PwC: Galenica and Shop Apotheke Europe form a joint venture

The PwC Deals team congratulates Galenica and Shop Apotheke Europe to the creation of a joint venture to establish the leading online pharmacy in Switzerland. PwC advised Galenica by providing financial due diligence, transaction and valuation support.

Galenica and Shop Apotheke Europe enter into a strategic partnership and combine their specialty pharmacy Mediservice Ltd. and the online pharmacy shop-apotheke.ch. The combination creates a leading online pharmacy in Switzerland. With this joint venture, customers of shop-apotheke.ch and Mediservice as well as new customers will benefit from the comprehensive and combined offer, which includes health and beauty products in addition to prescription medicines and health services. The result is a wide range of products and services that guarantee a seamless and even better online customer experience.

Transaction perimeter: By selling 51% of Mediservice Ltd. shares to Shop Apotheke Europe and making an additional cash payment of EUR 29 million, Galenica will receive an 8% stake in Shop Apotheke Europe as part of a capital increase. In conclusion, Shop Apotheke Europe will hold 51% and Galenica 49% of the joint venture. The transaction is subject to approval by the competition authorities.

PwC advised Galenica on both the sell-side of Mediservice Ltd. and the buy-side of Shop Apotheke Europe and the Swiss platform shop-apotheke.ch.

The PwC team

Financial Due Diligence

Luca Borrelli, Partner

Detlef Peter, Senior Manager

Felix Peters, Senior Associate

Felicia Bertschmann, Associate

Joshua Steiner, Associate

Corporate Finance

Sascha Beer, Partner
Alessandro Rossi, Manager
Kay Probst, Associate
Daniel Antonio Ammann, Associate