Ljubljana/Maribor, 15 October (STA) - Salus Veletrgovina, a Ljubljana-based wholesaler of pharmaceuticals and medical equipment, has finalised the acquisition of Farmadent, a Maribor-based company from the same line of business. The EUR 8.5 million purchase was completed after all suspensive conditions were met.
This brings to an end several attempts by six municipalities in the greater Maribor area to sell Framadent after they became its owners in 2017.
Salus Veletrgovina, whose only owner is Salus, is now the sole owner of Farmadent and its subsidiary GoPharm.
The contract was signed on 2 September, while all suspensive conditions were met when all municipal councils, Farmadent's shareholders and supervisory board, as well as banks cleared the sale.
"The acquisition aligns with the Salus group's development strategy, through which it aims to strengthen its role as one of the key players in the supply of healthcare products and services in the SE European markets by pursuing strategic goals with an innovative approach and cost-effective methods," Salus said in Wednesday's statement.
The acquisition was approved by the Competition Protection Agency based on the contract signed in January 2023 although the deal did not go through at the time because not all suspensive conditions had been met.
While Salus now asked the agency whether another clearance was necessary, the regulator said there are no need as the conditions of the deal had not changed.
Farmadent was initially a unit within the Maribor chain of pharmacies before becoming an independent company in 2000.
In 2017, its ownership was transferred onto the founding municipalities of the Maribor pharmacies: Maribor (83.35% stake), Hoče-Slivnica (5.48%), Rače-Fram (3.55%), Miklavž na Dravskem Polju (3.01%), Duplek (2.68%) and Starše (1.93%).
Farmadent generated EUR 60.6 million in revenue in 2024, which is about 14% less than in 2023, while its net profit reached EUR 44,000 following losses in previous years, according to data from the Eboniteta portal.
