Celesio

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Celesio AG
Type Aktiengesellschaft
Traded as FWBCLS1
Industry Pharmaceuticals
Founded 1835
Founder(s) Franz Ludwig Gehe
Headquarters Stuttgart, Germany
Key people Marion Helmes (Speaker of the Management Board / CFO), John H. Hammergren (Chairman of the Supervisory Board)
Services pharmaceutical wholesale and retail
Revenue €21.407,7 billion (2013) [1]
Operating income €406.6 million (2013)[2]
Profit €166,4 million (2013)[2]
Total assets €7.598,3 billion (2013)[2]
Total equity €2,192 billion (2013)[2]
Employees 38,940 (2013)[2]
Website www.celesio.com

The public limited company Celesio AG situated in Stuttgart is a German healthcare and pharmaceutical company. With 38,000 employees, Celesio operates in 14 countries around the world and generated revenue of more than 21.407,7 billion euros in 2013.[2] The corporation is part of the McKesson Corporation who has a 77,5 % stake in the company.

Overview[edit]

Celesio head office in Stuttgart-Bad Cannstatt

The head office is situated in Stuttgart Bad Cannstatt, between the Wilhelma zoo and botanical gardens and the mineral baths. The company’s core business consists of pharmaceutical wholesale and pharmacies. In the pharmaceutical wholesaling sector, Celesio has a market presence in 14 countries. It has a comprehensive range of logistics, solutions and advice services for pharmacists on matters of health, medicines and wellness. An extensive distribution network of more than 130 branches provides deliveries to some 65,000 pharmacies and hospitals several times each day.

Group structure[edit]

The company is structured into two business divisions:

Pharmacy solutions: Celesio's Pharmacy Solutions division focuses on the pharmaceutical wholesale business, offering pharmacists all the products and services they need to satisfy patients and consumers. Pharmaceutical wholesale has always been a major cornerstone of Celesio's core business. With its subsidiaries, Celesio AG is represented in 11 European countries and Brazil. A total of 130 wholesale branches supply around 65,000 pharmacies and hospitals every day.

Consumer solutions: Focusing on the patients and consumers, Celesio's Consumer Solutions division serves these customers through pharmacies of its own as well as partnership pharmacies. As an innovative service provider operating in the healthcare sector, Celesio offers a wide range of non-prescription products (OTC products) and medical services at its pharmacies besides the traditional prescription pharmaceuticals. Celesio is one of the largest pharmacy operators in Europe, with 2,200 pharmacies of its own in six countries.

History[edit]

1835 - 1948[edit]

The company was founded in 1835 by businessman Franz Ludwig Gehe in Dresden [3] and opened to the capital market on 1 January 1903 as the result of a conversion into a public limited company.[4] In January 1904, the shares were approved for trading on the former stock exchange in Dresden.

In 1909 the company relocated to a new and bigger site in the Leipziger Strasse and gave up their former seat in the Königsrasse (both in Dresden). The capital increase that took place in 1910 and 1912 laid the financial foundation for the country-wide sale of "drugs and paints, pharmaceuticals and chemical products" in proximity to customers. Following this expansion, the company founded its first subsidiary in Stuttgart, Germany.

After the Second World War the headquarters in Dresden, as well as most of the subsidiaries were dispossessed and the Gehe & Co. AG relocated completely to West Germany with subsidiaries in Stuttgart, Kassel and Sulzbach-Rosenberg in order to re-establish the enterprise.

The original company building in Dresden was in 1947 re-fashioned under "Heilchemie" and continued to function as a state-owned enterprise (later, in April 1951 "Heilchemie" merged with the likewise state-owned company "Dr. Madaus & Co" to become the "VEB Arzneimittelwerk Dresden")

1948 - 1981[edit]

Effective as of 1 January 1973, Haniel took control of the majority of Gehe’s shares. A key condition in the Haniel takeover was that management remain within the company in order to continue to enhance and develop the solid foundations established after the war. The pre-war recognisable name of "Gehe" managed to regain some of its prominence amongst pharmacists as a result of the acquisition of branches throughout Germany. The transition to Haniel saw the acquisition of branches in following places: Bremen, Hamburg, Kassel, Kelkheim, Landshut, Mühldorf, München, Nürnberg, Regensburg and Stuttgart.

In 1973 the company’s target revenue totalled 285 million Deutsche Mark. Owing to the majority shareholder Franz Haniel & Cie., other wholesalers were incorporated into the group (for example Friedrich Schäfer GmbH, Weiterstadt and Kaiserslautern, Wilmaco GmbH, Hamm and Lieser Pharma-GmbH, Duisburg).

1981 - 2003[edit]

1985 saw the successful acquisition of the Kaiser + Kraft-Group based in Stuttgart, a mail-order service for transport, stock, business and office supplies. Until 1992 customers in Germany were supplied from warehouses in Hamburg, Berlin, Haan, Dresden, Stuttgart and Munich.

Throughout the following years the company’s logistics were developed and trade was extended to 14 countries in Europe and the USA. With the stock market launch of the TAKKT on 15 September 1999, the mail-order segment of the business was separated from the rest of the enterprise.

2003 onwards[edit]

At the annual general meeting on 24 April 2003, the shareholders approved the change of name from GEHE AG to Celesio AG with an overwhelming majority of 99.98%; therefore, in the 100th year as a public limited company, the first year of Celesio began. Until today the German subsidiary GEHE Pharma Handel continues trading under the original name.

On 26 April 2007 Celesio announced its acquisition of a 90% stake in the mail-order pharmacy DocMorris,[5] out of which it wanted to establish a pharmacy chain. For the pharmaceutical wholesaler Gehe (part of the Celesio group) this acquisition resulted in a loss of customers as pharmacists saw a conflict of interest in this chain. DocMorris now functions as a franchise-like concept by the pharmacists, in exchange for a monthly license fee for the use of the DocMorris brand. DocMorris was later sold by Celesio to the Rose AG in October 2012.[6]

The European Parliament passed a notion on 19 May 2009, making pharmacy chains illegal in Germany in accordance with European Law.[7]

On 29 June 2009 it was announced that Celesio had predominantly acquired Brazil’s largest pharmaceutical wholesaler Panpharma. Three years later in 2012 Celesio overtook the company completely.[8]

At the end of June 2011, Celesio’s long time Chief Executive Officer Fritz Oesterle left his position to be replaced by Markus Pinger on 15 August 2011. However, on 3 July 2013 the Celesio Supervisory Board dismissed Pinger as CEO with immediate effect. Dr Marion Helmes took over the function of Speaker of the Supervisory Board of the Celesio AG in addition to her role as Chief Financial Officer until further notice.[9]

Since December 2012 Stephan Gemkow as controlling shareholder of the Franz Haniel & Cie. GmbH has been the Chairman of the Celesio Supervisory Board.[10]

16 September: Martin Fisher takes up his position as new Chief Operations Officer of the company.

On 19 September Celesio sells its mail order subsidiary, Rudolf Spiegel GmbH, to WEPA Apothekenbedarf GmbH.

24 October 2013: McKesson announces agreement to purchase Celesio to create leading global Healthcare Services Platform. In January 2014 McKesson announced that it was unsuccessful in completing the acquisition offers.[11]

6 February 2014: McKesson Corporation concludes the acquisition of more than 75 percent of Celesio shares and is therefore the new majority shareholder in Celesio.

Management Board[edit]

  • Marion Helmes (Speaker of the Management Board, since 3 July 2013 und Chief Financial Officer, since 1 January 2012)
  • Stephan Borchert (Chief Marketing Officer, since 1 August 2011)
  • Martin Fisher (Chief Operations Officer, since 16 September 2013)

Supervisory Board[edit]

  • John H. Hammergren (Chairman since December 2011)
  • Paul C. Julian (Vice Chairman)
  • Dr. Wilhelm Haarmann
  • Klaus Borowicz
  • Jörg Lauenroth-Mago
  • Pauline Lindwall
  • Susan Naumann
  • Ulrich Neumeister
  • Henning Rehder
  • Patrick Schwarz-Schütte
  • Hanspeter Spek
  • Gabriele Katharina Stall

See also[edit]

References[edit]

  1. ^ Celesio (2013) Annual Report. Available at <http://celesio.com/downloadblob/29848/352644/111_Annual%20Reports%202013_Download/data/Celesio-AnnualReport_2013.pdf?e=t
  2. ^ a b c d e f "Annual Report 2013". Hannover Re. Retrieved 11 March 2014. 
  3. ^ 1. Mai 1835: Unternehmensgründung
  4. ^ 1903-1947: Geschichte
  5. ^ 26. April 2007 Celesio erwirbt Mehrheit an DocMorris
  6. ^ Spiegel: Pharmadiscounter DocMorris wird an die Schweiz verkauft, 25. Oktober 2012
  7. ^ Martin-W. Buchenau, Maike Telgheder, Peter Thelen: EuGH-Urteil: Desaster für Doc Morris. In: Handelsblatt, 19. Mai 2009. Abgerufen am 1. Juli 2012.
  8. ^ Handelsblatt: Celesio will Panpharma komplett übernehmen, 26. April 2012
  9. ^ Handelsblatt online: Celesio setzt Chef Markus Pinger vor die Tür
  10. ^ Mitglieder des Aufsichtsrats: Jürgen Kluge (Vorsitzender), Anteilseignervertreter. celesio.com. Abgerufen am 1. Juli 2012.
  11. ^ http://investor.mckesson.com/press-release/mckesson-announces-results-celesio-offer

External links[edit]