Medco Health Solutions (Medco) has reported that its majority-owned subsidiary, Europa Apotheek Venlo, has acquired shop-apotheke.com, an online OTC and healthcare products site. The combined businesses intend to provide greater choice and convenience for consumers across Germany for their prescription medicine and non-prescription drug store product needs.
The company said that shop-apotheke.com, which offers over-the-counter medicines and a wide assortment of other healthcare products, will be managed through Medco’s subsidiary, Europa Apotheek Venlo.
Reportedly, the combined operations is expected to focus on using technology and innovation to drive differentiated solutions for consumers in Germany that lead to better management for the full continuum of products, ranging from OTC preparations and related healthcare items to prescription drugs and specialty medicines.
In April 2008, Medco acquired a majority stake in Europa Apotheek Venlo. shop-apotheke.com will retain its brand and operate under the continuing leadership of its current management team.
The acquisition of shop-apotheke.com by Europa Apotheek Venlo was approved by German merger control authorities on November 12. The parties did not disclose the financial details of the transaction, which is scheduled to close in January 2010.
Klaus Gritschneder, co-founder and head of communications at Europa Apotheek Venlo, said: “shop-apotheke delivers the drug store experience directly to the customer’s home, offering greater convenience and choice. Together with our resources, this combination of entrepreneurial German innovators is intent on accelerating growth in the market for online healthcare products.”