Medco Health Solutions Inc. bought a majority stake in Europa Apotheek Venlo, for $120 million, a company that provides mail-order pharmacy services and clinical health care to the Dutch and German markets.
The deal is subject to German regulations. Europa Apotheek is one of Europe's leading mail-order pharmacies and Medco plans to increase the stake in the future but no further details were given.
``We will support Europa Apotheek Venlo to get a leading position in one of the world's fastest-growing health markets,'' said David Israel, vice president of Medco. The acquisition is a ``logical consequence of our international investment and cooperation strategy.'' He stated in a document given to reporters today.
Medco said Germany is the fastest-growing market for pharmacy health care services with $35 billion in annual spending and 5 percent growth a year, Reuters stated.
In the U.S. Medco is the biggest manager of drug benefits and the first company to enter into the German pharmacy market and it may give power to it according to some analysts.