Health Services Group
Novolog
+ 1.59%
Base:296.3
opening:296.4
High:301.8
low:296.3
change:620,717
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Acquires 20% of the shares of the German telemedicine company (Medflex) from Medflex for 6.5 million euros. Novolog will also receive options to purchase additional shares of the company in the coming years according to a price formula agreed between the parties but not disclosed in the report.
Novolog notes that in 2019 the German parliament passed a law to accelerate digitization and innovation in the healthcare market, which is expected to lead to an expansion of the use of digital healthcare applications such as those of Medplex that they have now purchased. According to Novolog, industry experts estimate that spending on digital products and services will reach 12% of the German health budget and are expected to amount to about 57 billion euros in 2025.
Novolog was established in 1966 and currently employs about 650 people and operates within three divisions: logistics (access to complementary logistics services in the field of pharmaceuticals, medical equipment and clinical trials), health services (access to medical services at the patient’s home) and digital (access to information and online medical services).
The company says that the acquisition of Medplex is an important step for it as part of the implementation of its growth strategy and expansion of operations abroad. The company will hold 75% of AML after the transaction.
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