Ljubljana, 29 December (STA) - Salus, a wholesale supplier of medicines and other pharmaceutical products, has managed to acquire 98.14% of Sanolabor, a company supplying and distributing medical devices and pharmaceutical products. The entire stake cost it 17.5 million euro.
Salus acquired almost 40% in Salus as part of the takeover bid which was open between 30 November and 27 December, the Ljubljana-based company said on Saturday.
As many as 117 shareholders holding 10,177 shares, or 39.94% of all stock, accepted the takeover bid, in which Salus offered to pay 700.35 euro per Sanolabor share.
Earlier this year, Salus bought 58% of Sanolabor at the same price under the suspensive condition that the stake be raised to 75%. It then published the takeover bid.
At the time, it also committed to keep and use the Sanolabor brand name in the long-run if the takeover bid succeeded.
Sanolabor is a leading Slovenian company for wholesale and distribution of medical and orthopaedic devices, medicines and lab materials which also runs a network of specialised retail shops.
It has subsidies in Croatia and Serbia and also supplies buyers in Bosnia-Herzegovina, Macedonia, Montenegro and Kosovo.
Salus is the controlling company of the Salus group, which has under its wing Salus Veletrgovina, Carso, Nensi, Medika Internacional, Carso Internacional Skopje in Macedonia and Carso Cro Zagreb in Croatia.
The group generated 232.7 million euro in net sales revenues, up 5.7% from 2016, with its net profit rising by 14.3% to 3.9 million euro.