DocMorris is a leading European company in the fields of online pharmacy, marketplace, telemedicine and professional healthcare with strong brands in Germany, Spain and France. Every day, our dedicated team of more than 1,600 employees is building and defining Europe’s go-to digital health ecosystem.
Find out more about our equity story and the unique EUR 55bn eRx opportunity in Germany.
in Germany
in EUR in Germany
expected as mid-term target
expected as mid-term target
Electronic prescriptions (eRx) became mandatory in Germany as of 1st of January 2024. In just a few weeks, ~85% of medical facilities started to issue eRx and >70% of scripts were redeemed as eRx. With our number 1 brand DocMorris, the seamless app and our next day delivery promise, we are well prepared for this unique opportunity that becomes fully accessible with the CardLink NFC-eGK solution. Before eRx, the online share of the German EUR 55 billion Rx market was below 1% as regulation made Rx orders inconvenient. The Swedish market which offers a similar regulatory environment as Germany now after the eRx rollout, reached an eRx online penetration of 13% in only a few years, and we see a similar mid-term potential of 10% for Germany, the largest European market, only with much better starting conditions. Since Rx and OTC online markets in Sweden were liberated at the same time, both started to grow from 0. DocMorris is already active in the German over-the-counter (OTC) market with an online penetration of 24%. Our state-of-the-art fulfilment center in Heerlen with a capacity of more than 27 million parcels per year enables cost-efficiency and speedy order handling for large-scale eRx ramp-up.
We have a strong footprint in major European healthcare markets such as Spain, France, Portugal with strong brands such as Promopharma and DocMorris, Germany’s best-known health ecosystem, which has been designed to scale quickly to even more European countries with beneficial regulatory frameworks. Apart from ePharmacy, the ecosystem also includes a marketplace offering, TeleClinic, Germany‘s leading telemedicine platform, chronic care solutions, repeat subscription services, a tech & data plattform and many more. Today, we serve about 10 million active customers who are at the heart of everything we do.
From 2017 to 2021 the focus of DocMorris was on growth – not only in terms of revenue, but also in regards to our active customer base. This has set the stage for us to become the market and technology leader in our key markets. Since 2022, the company‘s focus shifted towards profitability and laying a basis for profitable growth. Multiple measures such as brand consolidation, the sale of the Swiss business and organizational streamlining as well as an emphasis on operational excellence has not only led to a reduction of CHF 83m of annual adjusted EBITDA on a half-year basis, but also sharpened DocMorris profile as a B2C digital health ecosystem. We continue our swift execution towards break-even in base business and target an adjusted EBITDA margin of ~8% in the mid-term.
Want to know more? Our Investor Relations team will be glad to answer any questions you may have about the DocMorris share and related capital market topics.
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