DocMorris NV

Dutch online pharmacy DocMorris has received a second round of funding from existing backers 3i and DrNeuhaus Techno Nord. The growth financing reached a total value of EUR 4.5m. Previously, in January 2001, both investors arranged a round of start-up funding.

Company

DocMorris, based in Landgraaf, is a pan-European mail order company for pharmaceutical products especially targeting the German market. The company was founded in late 2000 and generated a turnover of EUR 5m in 2001. The company focuses on customers with a foreseeable consumption. It distributes products for chronically diseases as well as life style products. DocMorris has established partnerships with German health insurances, for example the Gmünder Ersatzkasse and the BKK Bayern. However, it is interesting to note that the German association of pharmacists, the Bundesverband Deutscher Apotheker, recently initiated a lawsuit against the firm arguing that mail order of pharmaceutical products is prohibited under existing German law.

People

Daniel Meuthen and Ingo Jacoby coordinated the funding on behalf of 3i’s Hamburg office, while Dr Gottfied Neuhaus worked for DrNeuhaus Techno Nord. Ralf Däinghaus is chief executive officer of DocMorris.

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