Press release
Tuesday, 19 March 2024
Bencis Buyout Fund V C.V. (“BBOF V”) is pleased to announce that it has signed an agreement with Medios AG to sell its majority stake in Pharcom Investco B.V. / Ceban Pharmaceuticals (“Ceban Pharmaceuticals”), a European pharmaceutical compounding platform. Medios AG, a provider of specialty pharma solutions in Germany, is acquiring 100% of the shares in Ceban Pharmaceutical from BBOF V and (former) management.
Since February 2019, under our ownership and together with management the company has developed from predominantly a chain of pharmacies in the Netherlands (“Medsen”) into a fast-growing leading platform for pharmaceutical compounding of personalized medicine active in the Netherlands, Belgium and Spain. The value creation was the result of organic growth and multiple strategic acquisitions.
The agreed enterprise value is c. €260m and comprises of a €235.3m cash enterprise value and 1,700,000 shares in Medios AG. The shares represent a value of c. €23.6m based on the closing price of €13.90 on 18 March 2024. Completion of the transaction is expected end of June 2024 and is subject to positive works council advice and approval from the Nederlandse Zorgautoriteit (NZa).
Matthias Gaertner, CEO of Medios: “The acquisition of Ceban is an important milestone for our European expansion strategy. With its market leading position in the Netherlands and growing market positions in Belgium and Spain, Ceban is excellently positioned for further growth and highly profitable. Through our established Specialty Pharma platform in Germany, we are also creating cross-selling opportunities and synergies in procurement. Moreover, the portfolio of Ceban offers a strategic diversification of our activities, while tapping into attractive growth markets. All in all, this is a truly transformative transaction for Medios. I am extremely proud that we once again can deliver on our promises and expect to deliver on our ambitious mid-term targets already in 2025.
Jeroen van der Hamsvoort, CEO of Ceban Pharmaceuticals: “We are excited to become part of Medios. Its nationwide network of pharmacies provides us access to the interesting and sizable German market, in which Medios has built an impressive leading position. Moreover, the strategy of Medios fits seamlessly with our international strategic ambitions. Medios’ strong and long relationship with major pharmaceutical companies will allow us to benefit from a solid supply chain, excellent product availability, and a very strong purchase power. We look forward to building the leading European Specialty Pharma platform together.”
About Medios AG
Medios AG is the leading provider of Specialty Pharma Solutions in Germany. As a competence partner and expert, Medios covers all relevant aspects of the supply chain in this field: from pharmaceutical supply to the manufacture of patient-specific therapies including blistering. The focus is on optimal patient care via specialized pharmacies. Medios AG is Germany’s first listed Specialty Pharma company. The shares (ISIN: DE000A1MMCC8) are listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard). www.medios.ag
About Ceban Pharmaceuticals
Ceban has modern GMP-compliant manufacturing facilities for sterile and nonsterile pharmaceutical compounding and the repacking of APIs. Ceban also owns the “Medsen” chain of 23 pharmacies in the Netherlands. Ceban currently supplies a total of around 3,300 pharmacies and more than 200 hospitals in the Netherlands, Belgium, and Spain with APIs, and both sterile and non-sterile compounded medicines. Sterile preparations include ophthalmic preparations, analgesics, and antibiotics; non-sterile preparations cover antipsychotics, antiemetics, analgesics, diuretics, and antibiotics. www.cebanpharma.com
About Bencis
Bencis is an independent investment company that supports business owners and management teams in achieving their growth ambitions. Working out of offices in Amsterdam, Brussels and Düsseldorf, Bencis has been investing in strong and successful businesses in the Netherlands, Belgium and Germany since 1999. www.bencis.com
