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CGM Acquires a Majority Stake in farma3tec and strengthens its Market Position in the Italian Market for Pharmacy Software
CompuGroup Medical acquired 80 % of the shares of farma3tec S.r.l. based in Rome and its subsidiary, Mondofarma S.r.l. , located in Chiusi. Alliance Healthcare Italia will hold a minority stake of 20 % in farma3tec and remain on board as a strategic partner. The purchase price, which shall remain confidential as stipulated in the agreement between the two contractual parties, was paid in cash and financed through cash at hand and existing credit lines.
farma3tec develops software solutions for pharmacies in Italy and is, with its 5,000 customers, number two behind the CGM subsidiary, Studiofarma. Mondofarma is the main distributor of the farma3tec software solutions and has approximately 1,000 customers. Additionally, it sells hardware and other products. In 2013, the total turnover of both companies was approx. EUR 12 million and the EBITDA EUR 0.7 million.
In July CompuGroup Medial, through their subsidiary Qualita in Farmacia, acquired already the assets related to Software and Services for Pharmacies of Puntofarma Srl, Brescia. This transaction added another 800 pharmacies to the direct service of a CGM entity concluding in additional revenues of EUR 4 Million per annum.
"Together with our already strong business for pharmacy software in Italy, we are now established as the leading provider in this key European market with more than 13,000 customers. The technical overlap with our already existing products for pharmacies not only results in higher efficiency in the ongoing development of our products, but our customers particularly benefit from our network of distributors and service partners established nationwide", said Frank Gotthardt, Chief Executive Officer of CompuGroup Medical AG.
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