Shop Apotheke Europe rises 38% and buys Smartpatient

Shop Apotheke Europe rises 38% and buys Smartpatient

12 January 2021 - Deborah Wilkes

Shop Apotheke Europe said its sales in the fourth quarter of 2020 had risen by 38.0% as it attracted 0.4 million new active customers amid the COVID-19 pandemic. The online pharmacy has just announced it is acquiring digital medication management company Smartpatient.

Netherlands-based Shop Apotheke Europe reported “preliminary and unaudited” sales of EUR265 million (USD323 million) in the quarter, representing a rise of 38.0% compared to the same period a year earlier.

As a result, sales in the whole of 2020 were up by 38.1% to EUR968 million.

Shop Apotheke Europe said the number of active customers across Europe had reached 6.3 million as of 31 December 2020. This represented an increase of 0.4 million compared to the end of the third quarter of 2020 and 1.6 million for the year as a whole.

Sales by region

Sales in the company’s DACH segment – Germany, Austria and Switzerland – were up by 33.7% to EUR224 million in the fourth quarter of 2020. The segment generated 84.6% of total sales.

Meanwhile, sales in the International segment – covering Belgium, France, Italy and the Netherlands – increased by 68.2% to EUR41.0 million.

Acquiring Smartpatient

Commenting on 2020, chief executive officer Stefan Feltens said there had been significant progress in transforming Shop Apotheke Europe from “an online pharmacy retailer into a customer centric e-pharmacy platform”. He noted the planned acquisition of German company Smartpatient was part of this process.

“1.4 million patients are actively using Smartpatient’s MyTherapy app to better manage their medications and improve adherence,” said Shop Apotheke Europe, adding that expansion of digital services was a key part of its growth strategy.

Shop Apotheke Europe did not disclose the purchase price but said it was in the “upper double-digit million euro range”.

About Shop Apotheke Europe

Shop Apotheke Europe describes itself as “one of the leading and fastest-growing online pharmacies in continental Europe”. It operates online pharmacies in Austria, Belgium, France, Germany, Italy, the Netherlands and Switzerland.

The company’s headquarters are in the Netherlands and it is listed on Germany’s Frankfurt Stock Exchange.

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