Europe has a large pharmacy market – estimated to be worth € 250 billion in 2021. Online pharmacies currently capture only a fraction of this significant market, but the shift to online is progressing across countries.
With a size approaching € 65 billion, Germany comprises a substantial portion of this market and the introduction of electronic prescriptions will broaden our access to it. Many customers in Germany, as well as six other European countries, already choose Redcare Pharmacy and our brands.
As the European pharmacy market continues to grow and evolve towards digital, we are well positioned to offer secure, reliable and seamless customer journeys to guide people through their health.
We have over 20 years’ experience in the online pharmacy market and every day over 2000 employees, among them pharmacists, IT and other experts, work hard to ensure that our pharmacy meets all the healthcare needs of our customers.
With 80% repeat orders and an average net promoter score (measure of customer satisfaction) that is consistently high, we know we are doing something right. Still, we continue to innovate and improve our offering to ensure our customers always have what they need, and to maintain our leading position.
But we don’t only offer pharmacy products. Through our agile and scalable platform model, we also offer complementary services, benefits and access to even more health convenience.
We operate in seven countries – Germany, Austria and Switzerland (DACH); Belgium, the Netherlands, Italy and France (International).
Our DACH segment has been generating a positive adj. EBITDA margin over the past few years, while our International segment is growing fast and gaining scale.
Over the mid- to long-term, an adj. EBITDA in excess of 8% is anticipated for the consolidated business. Some of the stepping stones towards higher profitability are: