PHOENIX Pharmahandel Aktiengesellschaft & Co KG, headquartered in Mannheim, Baden-Württemberg, is the largest pharmaceutical wholesaler in Germany, and the second largest in Europe with about 153 distribution centers across the country delivering drugs to some 12,000 independent pharmacies. Its PHOENIX Documentation is an Internet-based archive offering detailed information on drugs, their components, indications, and effects. Formation of Holding companyPHOENIX International Beteiligungs GmbH. Phoenix Group is majority owner of the pharmaceutical wholesalers Purus A.S. in the Czech Republic and Tamro in Finland. Phoenix Group itself is majority-owned by pharmaceutical conglomerateMerckle Group.
History
The PHOENIX Pharmahandel Aktiengesellschaft & Co was founded from the German regional wholesalers F. Reichelt AG, Otto Stumpf GmbH, Ferd. Schulze GmbH, Otto Stumpf AG, and Hageda AG in early 1994. The newly established enterprise has achieved a market leading position in its home markets from day one. Only one year later in 1995, the company brand PHOENIX was established and a major strategy roll-out throughout Germany, Hungary, Italy and the Netherlands was initiated: During this process PHOENIX acquired majority shareholdings in the Hungarian pharma wholesaling company Parma Rt., the Northern Italian pharmaceutical wholesaler Comifar S.p.A., 60-per cent shareholding in the second-largest Dutch pharmaceutical wholesaler ACF Holding NV, based in Maarssen near Utrecht. In 1996, the PHOENIX group already achieved a group-wide turnover exceeding EUR 10 billion for the first time in its history. Following this achievement further acquisitions in Italy, the Czech Republic and Hungary were completed to strengthen the market position. In addition new branches were established in Poland and France. Several different problems in Poland and Hungary triggered a country-exclusive restructuring process in 1997 and was accompanied with a 100% takeover of the Austrian company Hestag and the renaming of Schulze Pharma France in PHOENIX Pharma during the same year. The entry into the United Kingdom market occurred in 1998 with the establishment of 11 distribution centres, a wholesale network with almost nationwide coverage. PHOENIX GROUP also acquired the regional wholesalers L. Rowland & Co. and Philip Harris Medical to establish a PHOENIX presence in the UK, with the aim of establishing a third significant player in the pharmaceutical distribution industry, alongside AAH/Lloyds and Unichem/Moss. The Rowlands estate comprised approximately 70 pharmacies at this time. In 2000, the number of employees across the group exceeds 10,000 for the first time and the company acquired the Finnish Tamro Group in April with a 33.7% stake. In the year 2002, PHOENIX Pharmahandel AG & Co KG merged with Ferd. Schulze GmbH Co., subsequently its number of employees across the group exceeded 15,000 for the first time with a group-wide turnover of more than EUR 15 billion. Two years later, PHOENIX received title to all shares of Tamro Corporation in May 2004 and subsequently acquired a 100% shareholding in Tamro: It was the largest acquisition in the history of PHOENIX successfully to date; Tamro was delisted from the Helsinki Stock Exchange in the same year. In 2006, the group-wide turnover exceeds EUR 20 billion for the first time. In July 2011, the rating agency Standard & Poor’s upgraded PHOENIX’s rating from B+ to BB- with continuing positive outlook. In August, the rating agency Moody’s raised the outlook for PHOENIX from “stable” to “positive”. In October, the rating agency Fitch issued a rating for PHOENIX of “BB” with a “stable” outlook. In May 2013, PHOENIX group has issued a corporate bond with a volume of EUR 300 million.
