Advent in partial exit from Mediq

Dutch healthcare group Brocacef has acquired Mediq Pharmacies Nederland from Mediq for an undisclosed sum. The newly created joint entity has revenues of €2.1bn and 5,300 employees.

The acquired pharmacies will be rebranded as Benu, while services for business customers will operate under the name Brocacef.

Advent is still the owner of Mediq's other division, Mediq Direct & Institutional, which delivers medical devices and relevant care across 14 countries.

Previous funding
Advent took Mediq private from the Euronext Amsterdam in January 2013, having announced its intention to do so the previous September. The firm – via the holding Al Garden – offered €13.25 per share for the business, giving Mediq a market cap of €775m.

Mediq had been listed on the stock exchange since 1992. At the time of Advent's takeover, the company employed 8,300 staff and generated €2.7bn in revenues across both of its divisions.

Company
Founded in 1899 and headquartered in Utrecht, Mediq is a provider of pharmaceutical, medical device delivery and related care services. The group employs 7,100 staff altogether.

Its pharmacies division operates 220 pharmacies across the Netherlands, serving 2 million customers.

People
Arthur de Bok is the CEO of Mediq. Peter de Jong is the managing director of Brocacef. Advent director Bram Grimmelt and managing director Tom Allen manage the firm's investment in Mediq; both sit on the company's board of directors.

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• Topics
• Exits
• Benelux
• Healthcare
• Netherlands
• Partial sale
• Advent International