Hygie31 has acquired a majority stake in Elsker Group to strengthen its presence in the French pharmacy market and enhance service offerings.

Target Company Overview

The Elsker Group, a significant player in the health sector in the Hauts-de-France region, reported nearly €225 million in revenue at the close of its pharmacy group. Elsker operates in three key areas: a pharmaceutical network under the brand 'Pharmacyal' with around 130 affiliated members, a pharmaceutical purchasing center named Norcap offering over 5,000 products, and a home care service through its division, MVD. The company is now poised to strengthen its market position following a strategic investment from Hygie31.

Hygie31, which was established under the ownership of Latour Capital and Bpifrance since July 2022, owns pharmacy-related brands such as Pharmacie Lafayette, Optique Lafayette, Médical Lafayette and the e-commerce site cocooncenter.com. By acquiring a majority stake in Elsker Group, Hygie31 aims to enhance its operational capabilities and market outreach in the French pharmacy sector.

Industry Overview in France

The French pharmacy industry is characterized by a diverse range of services, including retail pharmacy, online sales, and home health care services. This sector has seen a converging trend where traditional brick-and-