Glasgow-based online pharmacy specialist pushes into Germany with latest deal
An online pharmacy specialist headquartered in Glasgow has expanded into Europe following the acquisition of two brands.
Founded by Addy Mohammed and Karim Nassar in Glasgow in 2015, Simple Online Healthcare offers a free online NHS England prescription delivery service, an online pharmacy store and digital doctor services.
The business has now struck a deal to acquire the Kapsel and Dr Felix brands from Stark Healthcare. Kapsel provides primary care services to patients across Germany, while Dr Felix is an online doctor clinic serving patients UK-wide.
The acquisitions include a number of personnel moving across to Simple Online Healthcare.
Co-founder Mohammed said: “Germany is the largest healthcare market in Europe. We are confident we can replicate our success to date in the UK and Australia, and the acquisitions take us one step closer to our aspiration to offer services globally.”
Sami Malik, founder, Stark Healthcare, said: “The Kapsel and Dr Felix brands align extremely well with Simple Online Healthcare’s strategic moves in the UK and Europe, underpinned by a shared passion for patient-centric care.”
In the year to the end of February, Simple Online Healthcare reported increased revenue of £14.5 million, and is on track for revenue in excess of £20m in the current year. In line with the company’s expansion, headcount has more than doubled over the past 15 months from 32 to 70.
In March, the firm announced the appointment of former Skyscanner executives Shane Corstorphine and Jules Pancholi as non-executive directors.
Mohammed added: “Our mission is to build a world-class pharmacy experience for patients, and bringing in key personnel from Stark, with years of experience in telehealth, complements our existing team and strengthens our overall offering. We can now better service our patients, while making treatments more accessible and affordable.”
Financial details surrounding the acquisition have not been disclosed.
As of this July, Simple Online Healthcare has served more than 500,000 customers across all regions and brands, while co-founder Nassar says the company plans to add senior talent to its leadership team over the coming weeks.
“We’re in some exciting discussions with some of Scotland’s best talent,” he added.
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