Oriola and Euroapotheca Announce Future CEO and Chairman of Planned Pharmaceutical Joint Venture in Sweden

Press release May 16, 2022

Oriola and Euroapotheca announce future CEO and Chairman of the Board Advice for the Pharmacy joint venture project in Sweden

As announced on February 9, Oriola and Euroapotheca have signed a master merger agreement to combine the respective pharmaceutical companies Kronans Apotek and Apoteksgruppen into a new company in Sweden.

Now the companies have indicatively agreed that the current CEO of Apoteksgruppen, Mr. Erik Sjogren will be the future CEO of the new company. In addition, the parties have indicatively agreed that from Oriola Chairman of the Board Mr. Panu Routila will be the future chairman of the board of directors of the new company and Mrs. Katarina Gabrielsonthe CEO of Oriola Society, would also join the board of directors. Euroapotheca will appoint its candidates to the Board in due course.

The transaction is subject to the approval of the competition authorities

The new company to be created will have over 470 chain pharmacies, 44 franchise pharmacies and full online pharmacy operations, over 2,300 full-time employees and an illustrative combined revenue of €1,140 million from 2020 in Sweden. The new company will be the third largest player in the Swedish pharmaceutical market in terms of turnover, with an estimated combined market share of 25%.

The transaction is subject to the approval of the competition authorities. the European Commission has already rendered its decision on a referral request made by the parties and has decided to refer the case in its entirety for consideration and final decision by the Swedish Competition Authority (Konkurrensverket).

Both parties work in active dialogue with the competent authorities. Approval of the transaction is expected to be received in the second half of 2022. Until all merger closing conditions are satisfied and the merger is completed, Kronans Apotek and Apoteksgruppen will continue to operate fully separately and independent.

Further information :

Tuula Lehto
Vice President, Communications and Sustainable Development, Oriola
Phone. +358 40 5885 343
Email: tuula.lehto@oriola.com

Laimonas Devyzis
Business Development Manager, Euroapotheca UAB
Email: Laimonas.devyzis@ev.lt

Oriola is a health and wellness company operating in Finland and Sweden. We help people lead healthier lives by providing access to sustainable health and wellness products and services. In Sweden, Oriola owns the third largest pharmacy chain in the country, Kronans Apotek. In addition to pharmacies, our dose dispensing, medical information and patient support services enhance the safety and efficiency of pharmaceutical care. Our expert services support pharmaceutical companies throughout the drug life cycle. from Oriola The supply chain ensures reliable and safe delivery of pharmaceutical products to pharmacies, hospital pharmacies, veterinarians and other healthcare operators. In 2021, from Oriola net sales were €1.9 billion and the group employed approximately 4,100 professionals. Oriola Society is listed on Nasdaq Helsinki. www.oriola.com

EUROAPOTHECA is an international group of Northern European companies that operate retail pharmacy chains and wholesale pharmaceutical businesses in Lithuania, Sweden, Latvia and Estoniaas well as online pharmacies at Lithuania, Latvia and Estonia. The EUROAPOTHECA group was created in 1998. EUROAPOTHECA currently has 480 pharmacies and 119 franchised pharmacies in four countries and employs more than 3,900 people. EUROAPOTHECA controls the Eurovaistinė pharmacy chain (274 pharmacies) in LithuaniaApoteksgruppen (150 pharmacies and 43 franchised pharmacies) in SwedenEuroapteek (76 franchised pharmacies) at EstoniaEuroaptieka (56 pharmacies) in Latvia. www.eurapotheca.lt

https://news.cision.com/oriola-oyj/r/oriola-and-euroapotheca-announce-prospective-ceo-and-chairman-of-the-board-for-the-planned-pharmacy-,c3567450

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