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Glovo will deliver medicines from Hippocrates pharmacies to your home

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The last round with the collection of 65 million liquidity ended a few days ago. And it brought the total resources to 120 million to give a further boost to the growth of Hippocrates holding. As if to say the first Italian group of pharmacies with 82 stores so far and the ambition to reach 125 by July, when the company can count on a turnover of around 200 million. Among others, the families of entrepreneurs Branca and Stevanato, Manfredi Lefebvre d’Ovidio, owner of Silversea Cruises, and Isa of Trento responded to this last call. They have joined a large group of entrepreneurs – 65 in all – who have shared the project and want to play the role of long-term investors.

Model

a plan that looks at what has already been created by Ornella Barra and Stefano Pessina with Walgreens Boots Alliance, in Italy and abroad. With a strong focus on innovation. In fact, the agreement with Glovo for the delivery of medicines through an app has started. We will start from Milan where the strongest health emergency, then move on to ten other cities, with costs for the service reduced to a minimum.

Former bankers

Davide Tavaniello, 36 years old, and Rodolfo Guarino (31) are in the control room of Hippocrates, a Milanese network that has grown up to date. Two years ago they abandoned their career in finance to become entrepreneurs in the pharmacy business, a market worth 25 billion in Italy and one of the most fragmented in Europe with 20,000 realities. Tavaniello, a former investment banker in Ubs where he followed companies such as Moncler and Coin-Ovs, and Guarino – worked in Carlyle on cases such as Twinset and Golden Goose – in 2017, after market liberalization, they had the idea of ​​consolidating the fabric Italian pharmacy to create a Made in Italy hub. Not only the market but also the shareholding structure, given that all investors are tricolor.

Plan

The project immediately liked the families of Italian entrepreneurs because of an industrial type, they understood it, say Tavaniello and Guarino that are developing this last phase of investment which by July will have activated 300 million capital, including contributions from shareholders and bank loans . The two founders bought mainly from the families of pharmacists, often leaving the former owners behind the counter and safeguarding their skills. But by equipping their store with a more solid financial structure and expanding the supply network in addition to support in launching new services. In short, preserving the family matrix dear to the public of Italian pharmacies but also giving more career opportunities to young pharmacists who start, say the founders.

Entrepreneurs

with these arguments that in the last two years investors such as Nerio Alessandri of Technogym, the Riello and Alessi families, Paolo Pizzarotti, president of the homonymous construction group, Paolo Barilla, Marco Drago, have joined the top of the De Agostini group, Gaetano, Stefano and Paolo Marzotto, Alberto Recordati of the Lombard pharmaceutical dynasty. And there is also Giuliana Benetton with her husband Carlo Bertagnin and their daughter Franca. Alongside, also the design entrepreneurs Michele and Giovanni Gervasoni, Michele and Enrico Catelli (Chicco-Artsana). Then, Franco Moscetti, former CEO Amplifon and then Sole24 Ore now self-employed, and Gianandrea De Bernardis, executive vice president of Cerved.

Growth plan

The presence of Hippocrates so far concentrated in the North, between Lombardy and Veneto, but the new expansion phase also looks to Central and Southern Italy. Now the attention is focused on Milan where the group will soon open its first flagship store (near Piazza Cordusio) which will be added to other twenty pharmacies already in the portfolio, such as the historic Foglia pharmacy in the center. The pharmacy is the first health service for the citizen. The demand grows – say the two entrepreneurs – and comes from a market in very strong evolution.

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