McKesson Europe: Difference between revisions

| name = McKesson Europe AG

| logo = Mck logo pos col rgb 162x50mm clearspace.jpg

| type = [[Subsidiary]]

| foundation = {{Start date =and age|1835}}

| founder = Franz Ludwig Gehe

| location = [[Stuttgart]], Germany

| parent = [[McKesson Corporation]] (76%)

| industry = [[Pharmaceuticals]]

| services = pharmaceutical wholesale and retail

| revenue = €21.18 billion (FY 2019)<ref>{{cite web|url=https://craft.co/mckesson/revenue |title=McKesson Company Profile|date=|work=craft.co|accessdate=8 October 2019}}</ref>

| homepage = {{url|https://www.mckesson.eu/}}

'''McKesson Europe AG''' (formerly '''Celesio AG''', previously '''Gehe AG'''), with its headquarters in [[Stuttgart]], Germany, is a leading international wholesale and retail company and provider of logistics and services in the pharmaceutical and healthcare sectors. The company had around 37,000 employees at the end of the 2019 financial year (31 March 2019) and is represented in 13 countries in Europe. In the 2019 financial year the company achieved a turnover of EUR 21.18 billion. The majority shareholder of the company is the US-based McKesson Corporation, which holds a share of 77.01%. The remaining 22.99% of shares are inavailable freeon floatthe [[open market]]. Kevin Kettler, a US citizen, has been Chairman of McKesson Europe since 1 November 2018.<ref>{{Cite web|url=https://www.mckesson.eu/mck-en/news-press/releases-mckessoneurope/mckesson-and-celesio-to-operate-as-an-integrated-company---achieving-important-acquisition-milestone/14208|title=McKesson and Celesio to operate as an integrated company – achieving important acquisition milestone|website=www.mckesson.eu|access-date=2019-07-27}}</ref>

The chemist and paint business Gehe & Co. was founded on 1 May 1835 by [[Franz Ludwig Gehe]] in [[Dresden]] on Königstraße<ref>[http://www.celesio.com/ag/?subnavid=0&ni=10-100&lg=de 1. Mai 1835: Unternehmensgründung]</ref> and opened to the [[capital market]] by converting it into a stock corporation on 1 January 1903. In January 1904, the shares were admitted to trading on the [[Exchange (organized market)|stock exchange]] in Dresden.<ref>[http://www.celesio.com/ag/?subnavid=2&ni=10-100&lg=de 1903–1947: Geschichte]</ref>

In April 2003, the company celebrated its 100th year. On the birthday of the conversion into a [[joint-stock company]], the [[Annual general meeting|Annual General Meeting]] decided to change the name from Gehe AG to Celesio AG, with a majority of 99.98%. Today, the German subsidiary GEHE Pharma Handel still operates under its original name. In April 2007, Celesio announced the acquisition of 90% of the shares in the mail-order pharmacy [[:de:DocMorris|DocMorris]], in order to build up a pharmacy chain across Germany.<ref>26. April 2007 [http://www.finanznachrichten.de/nachrichten-2007-04/8136021-roundup-2-celesio-erwirbt-mehrheit-an-docmorris-apothekenkette-geplant-016.htm Celesio erwirbt Mehrheit an DocMorris]</ref> The acquisition took place in hopes that the [[:de:Apothekengesetz (Deutschland)#Fremdbesitzverbot|third-party ownership ban]] of the Pharmacies Act would fail, but it was legitimised in May 2009 by the [[European Court of Justice|EuGH]]. For the pharmaceutical wholesaler Gehe, which was also part of the Celesio Group, the acquisition resulted in a loss of customers as pharmacists saw a threat in the chain. DocMorris was now operated as a franchise-like concept, in which pharmacists were allowed to use the DocMorris brand with the payment of a monthly licence fee. As a result, Celesio sold DocMorris in October 2012 to the company [[:de:Zur Rose Group|Zur Rose AG]].

On 24 October 2013, the US-based [[McKesson Corporation|McKesson]] Corporation announced an agreement to acquire Celesio for EUR 6.1 billion (approx. EUR 23 per share). However, on 13 January 2014, the company reported that McKesson's acquisition of Celesio was unsuccessful, due to the 75% threshold not being reached. At the start of November 2013, the Elliot hedge fund acquired 12.68% of Celesio from [[Paul Singer (businessman)|Paul Singer]], a well-known course of action by him to benefit from takeovers. Following McKesson's failed takeover, Singer increased his direct and indirect stake to around 32%. On 23 January 2014, Haniel took over the share from the Elliott hedge fund and served the 75.99% one day later to McKesson, which meant that the takeover was still a success.

On 12 December 2019, McKesson Corporation announced that it planned to bring its German wholesale business (GEHE Pharma Handel GmbH, a subsidiary of McKesson Europe) into a joint venture with Alliance Healthcare Deutschland AG (a subsidiary of Walgreens Boots Alliance). McKesson should hold 30% of the planned joint venture, Walgreens Boots Alliance 70%.<ref>{{cite web|title=Alliance Healthcare und Gehe vereinbaren Zusammenarbeit|periodical=|publisher=|url=https://www.deutsche-apotheker-zeitung.de/news/artikel/2019/12/12/mckesson-und-alliance-healthcare-vereinbaren-zusammenarbeit|url-status=|format=|access-date=2020-01-15|archive-url=|archive-date=|last=Benjamin Rohrer|date=2019-12-12|year=|language=|pages=|quote=}}</ref>

* Kevin Kettler (Chairmanchairman of the Boardboard, Labour Director, since 1 November 2018)

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