Dr. Max Group, one of the strongest pharmacy management operator in Europe, being on the European market from 2014 and boasting over 3,000 physical outlets and online stores, is proud to announce its acquisition of Neo Apotek SpA, a strategic move that elevates the total number of Dr. Max pharmacies to over 210 in Italy. This significant development solidifies Dr. Max's leadership position in the Italian market.
Dr. Max Italy is surpassing 210 owned pharmacies in Italy by acquisition of Neo Apotek SpA
Dr. Max Group is committed to preserving the legacy and achievements of Neo Apotek S.p.A, a prominent company in the Italian market, has made substantial investments in growth and the central role of pharmacists over the years. The addition of over 130 pharmacies further strengthens Dr. Max's presence in the territory, making a significant impact in both tourist destinations and metropolitan cities, particularly Milan, Venice, Verona, Bergamo, and Turin.
Leonardo Ferrandino, CEO Dr. Max Group, remarked: This strategic acquisition allows us to combine the best of both entities, contributing to the enhancement of Dr. Max's established experience and structure, as well as the focus on excellence and innovation for which Dr. Max is known in Europe. With the acquisition of Neo Apotek, we solidify our commitment to a path of rapid development in Italy, a journey that began with the opening of the first Dr. Max pharmacy in 2018. Our vision is clear: Dr. Max is already a market leader in numerous European countries, and we are determined to achieve a leadership position in Italy as well. The acquisition of Neo Apotek represents a significant milestone in this journey, a crucial piece for our growth and for all the people who work with us.”
Dr. Max's rapid growth in the past year included the acquisition of over 35 pharmacies in various Italian cities, along with continuous investments in people and retail locations throughout the country.
“This operation marks a historic moment for the company and our industry in Italy," says Alessandro Urbani, CEO of Dr. Max Italy. "With this acquisition, we have increased the number of Dr. Max employees to over 1,300, including pharmacists and industry professionals, demonstrating the solidity of our development plan in the country and the great ability of the Dr. Max team to execute it. The addition of new resources and talents presents an incredible opportunity to further accelerate our growth in the coming years. Our top priority will be to maximize value for our patient-customers, aware that success depends on the expertise and enthusiasm of our team and, therefore, our ability to help it grow alongside the project. This includes continued investment in training and professionalism, as well as the continuous improvement of our processes. We are excited to embark on this new chapter together with the professionals from Neo Apotek, which represents a great responsibility but also an extraordinary opportunity to make a difference."
Andrea Riva, CEO of Neo Apotek: "With this operation, we enter a new phase for Neo Apotek, in which all the people who have contributed to the company's success over the years continue to play a vital role. We share similar values and a common long-term growth vision with Dr. Max, so we are confident in teaming up with one of the leading international players in the industry, one that will value the talent of Neo Apotek's people and continue the development path we have undertaken in recent years. This shared commitment will undoubtedly make a difference in achieving ambitious leadership goals in the Italian market.”
In 2023, Dr. Max's growth journey saw increased investments in various areas, and these efforts will continue in 2024 with a commitment to continuous improvement. The new centralized warehouse in Telgate, covering over 14,000 m2, is a testament to the company's dedication to improving efficiency and streamlining processes. It will receive additional investments in automation at the start of the year to enhance process efficiency, ensuring a seamless and reliable supply chain.
Furthermore, investments will be directed towards strengthening omnichannel services and the drmax.it e-commerce platform, which attracts over 1 million customers every month. Dr. Max will also expand its range of health and beauty services offered in pharmacies, with a focus on delivering innovative, quality solutions at competitive prices to better serve people and enhance their well-being.
Dr. Max aims to create a seamless and standardized pharmacy network that not only sets industry benchmarks in Italy but also resonates with the high standards set across Europe.
Dr. Max was assisted as advisors by: EY, Shearman & Sterling and AK Evan. While Neo Apotek was assisted by Rotschild & Co., Studio Legale Gattai and Banca Profilo.
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The Dr.Max Group is owned by the Central European investment group Penta, established in 1994. Penta’s business areas include health care, financial services, manufacturing, retail businesses and real estate development. Penta manages a single fund for its partners, the shareholders in the company. The companies in Penta’s portfolio employee more than 43,000 people, and the Group’s asset value reached € 11.1 billion in 2020. Penta operates in more than 10 European countries and has offices in Prague, Bratislava, Warsaw and Munich.