Image credit: Shop Apotheke Europe
Sevenum, Netherlands-based online pharmacy company, Shop Apotheke Europe has announced the acquisition of MedApp Holding which includes MedApp Nederland and MedApp Apotheek; founded as a startup at the Eindhoven University of Technology in 2016.
Shop Apotheke Europe has acquired 100 per cent of the shares from the founders of MedApp and investors including Health Innovation Fund III.
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MedApp’s founders Pit Janssen and Edwin Hermkens, as well as the current management team, will stay on board continuing to lead and manage the growth of the company.
With this development, Shop Apotheke Europe aims to strengthen its business in its home country, the Netherlands. Currently, the e-pharmacy company is active in the Netherlands through its brand Farmaline that offers beauty and personal care products.
The acquisition of MedApp enables Shop Apotheke Europe to further expand into the area of prescription drugs (Rx) in the Dutch market.
Jasper Eenhorst, CFO of Shop Apotheke Europe, comments, “Through the acquisition of MedApp, we are expanding our current Rx business into the Netherlands. Even if the sales and earnings contribution is relatively small these days, this transaction is of special importance to us. Providing e-Rx and having a relentless focus on improving our patients’ lives through medication management are key pillars of our strategy to become Europe’s customer-centric e-pharmacy platform.”
MedApp is a technology company that offers software solutions supporting diagnostic imaging and new generation digital medicine services. Its key products include CarnaLife Holo, HoloComm, CarnaLife System, and the Digital Clinic.
The company aims to help patients suffering from chronic diseases. Therefore, the app-based pharmacy service was developed with a strong behavioural focus meeting the individual needs of chronically-ill patients.
Users can set smart medication alerts, obtain an overview of their medications and get their medicines delivered conveniently to their homes. They also have access to disease-related information and media improving medication adherence and convenience.
MedApp cooperates with international technology and medicine leaders, such as Microsoft, GE Healthcare, or Johnson & Johnson, providing its clients with a safe collection, analysis, and visualisation of large amounts of data.
Pit Janssen, CEO & founder of MedApp says, “Joining forces with one of the major European e-pharmacies is a perfect match since it provides us with the infrastructure and know-how needed to improve healthcare services in the Netherlands.”
In 2020, the company achieved record financial results, recording an increase in revenues by 87 per cent and an increase in net profit by 185 per cent compared to the previous year.
As mentioned in a press release, in 2021, MedApp plans to focus not only on the further commercialisation of the existing solutions but also on the transfer of quotations to the regulated market of the Warsaw Stock Exchange.
The company claims to be one of Europe’s leading and fastest-growing online pharmacies. Currently, it is operational in Germany, Austria, France, Belgium, Italy, the Netherlands, and Switzerland.
Shop Apotheke Europe offers its customers a broad range of more than 100,000 original products at attractive prices. These include OTC, beauty, and personal care products as well as prescription drugs, supplemented by high-quality natural food and health products, low carb products, and sports nutrition.
Currently, Shop Apotheke Europe has more than 6.3 million active customers. The e-pharmacy also provides comprehensive pharmaceutical consulting services.
The company is looking to introduce electronic prescriptions in Germany in summer 2021, and says it will focus on disease-specific digital medication management services following the acquisition of SmartPatient in January 2021.
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