RIGA - Latvia, Riga-based Repharm health group is planning a new phase in its development, and has charted a roadmap under its upcoming “Fit for 2025” strategy to strengthen the group’s presence in the region, improve its outreach to patient and customer communities, and evaluate options for securing fresh capital.
According to Andrejs Leibovičs, Chairman of the Repharm Supervisory Board, “We are proud to be a trusted health partner among local communities, many in underserved and remote areas. The COVID-19 pandemic has presented unique challenges for our business and to the entire health care industry. We have succeeded in meeting these challenges, delivering moderate growth in 2020. We will strengthen our outreach in the region in the coming years, as we launch our “Fit for 2025” today, start our transformation and evaluate options for securing capital – either through direct investment, or capital markets.”
“Our goal is to make health care more accessible – and we had to demonstrate adaptability throughout 2020. Our customers appreciated this, and we delivered moderate growth and annual business results that are a solid starting point for future development,” explained Dins Šmits, Repharm Supervisory Board Member.
In the financial year of 2020, Repharm employed an average of 3,750 people at its clinics, pharmacies, laboratories and other health-related operators, up from 3,559 professionals the previous year. The group's companies generated consolidated revenues of EUR 314.0 million, up from EUR 283 million a year earlier. The tax contribution of Repharm amounted to EUR 39.7 million in 2020, compared to EUR 37 million in 2019.
Against this background, Repharm today announced a roadmap for its five year “Fit for 2025” strategy aimed at strengthening the presence of the health group across a greater region, streamlining its health operators and identifying strategies for securing fresh capital. Repharm will shortly launch a tender for an international adviser, and plans to present a detailed strategy in six months' times.
AS Repharm represents a group of companies offering healthcare, wholesale and retail of pharmaceutical and healthcare products, laboratory services, operating in the Baltic region and generating annual total revenues of over EUR 300 million. Customers and health are the focus for Repharm’s award-winning brands and operators including Mēness aptieka pharmacies, Veselības centru apvienība and MediCA group clinics, Centrālā laboratorija labs, the wholesaler Recipe Plus and Rīgas Farmaceitiskā fabrika, a producer of plant-based medicines and herbal therapeutic agents.