German healthcare provider PHOENIX group completes acquisition of McKesson companies in Ireland: United Drug, LloydsPharmacy, Median Healthcare and TCP Homecare

The PHOENIX group has completed the acquisition of parts of McKesson Europe, following the clearance by competition authorities of the full scope of the transaction. The transaction has now completed. In line with the purchase agreement between McKesson and PHOENIX of July 2021, the transaction includes the McKesson companies in Ireland namely the United Drug, LloydsPharmacy, Median Healthcare and TCP Homecare business entities in addition to companies in Belgium, France, Italy, Portugal, and Slovenia, the European headquarters, a shared service centre in Lithuania, German company Recucare GmbH, and the minority stake in the Brocacef Groep joint venture in the Netherlands.

The acquisition sees the PHOENIX group enter new healthcare markets in Ireland, Portugal, Belgium, and Slovenia, while expanding its existing activities in France and Italy.