Sweden’s ICA Acquires 42% Shares In Min Doktor
Swedish retailer ICA Gruppen has announced that it has completed investment in 42% shares of digital primary care services provider Min Doktor through Apotek Hjärtat.
The company has met all the customary terms, and acquired regulatory approvals necessary to complete the acquisition.
Handelsbanken Capital Markets and Lindahls Advokatbyrå served as advisers to ICA Gruppen and Apotek Hjärtat.
In September of this year, the retailer had announced about the investment, that would allow it to offer digital support in its Minutklinikens drop-in clinics.
ICA Gruppen’s investment in Min Doktor consists of a cash capital contribution of SEK 335 million (€32.5 million).
The Minutkliniken business, valued at SEK 225 million (€21.8 million), will also be a part of Min Doktor.
Min Doktor is aiming for a rapid expansion in the number of clinics. Most of these will be located adjacent to ICA stores.
The capital contribution will cover the operation’s capital needs in the coming years.
ICA Gruppen’s share in Min Doktor’s earnings will be reported as an associated company of Apotek Hjärtat.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.