Top 17 Pharmacy Benefit Management Investors in Europe
Top 17 Pharmacy Benefit Management Investors in Europe
Pharmacy benefit management (PBM) in Europe plays a vital role in optimizing medication access and cost efficiency for healthcare systems. The industry features companies that handle prescription drug benefits for insurance plans, negotiating prices and managing formularies to enhance patient care while keeping expenses down. As healthcare systems evolve, the focus is shifting toward digital solutions, improving personalization and efficiency. For example, several European PBM companies are increasingly integrating technology and analytics, paving the way for transformative approaches in medication therapy management and patient engagement.
In 2024, 17 notable investors shaped the pharmacy benefit management sector in Europe. These include corporate giants like Accenture, headquartered in Dublin, and a mix of private equity and venture capital firms like Bpifrance and EQT Group. Founded between 1981 and 2017, these investors vary greatly in size, with some having thousands of employees, while others are more streamlined. Their collective focus on healthcare solutions is exemplified by an impressive deal count, showcasing a strong commitment to evolving this essential part of the healthcare system.
Top 17 Pharmacy Benefit Management Investors in Europe
1. Accenture
- Website: accenture.com
- Type: Corporate
- Headquarters: Dublin, Dublin, Ireland
- Founded year: 2001
- Headcount: 10001+
- Number of deals in 2024: 51
- LinkedIn: accenture
Accenture is a global consulting firm based in Dublin, Ireland, specializing in information technology and management consulting services. Founded in 2001, the firm has grown to employ over 10,000 professionals and has made 51 investments in 2024 alone. Accenture offers a wide range of solutions across various industries, including healthcare, where it has been actively enhancing its capabilities through strategic acquisitions. Notable transactions include the acquisition of Nautilus Consulting, a leading digital healthcare consultancy in the U.K., aimed at bolstering its digital transformation capabilities in the healthcare sector, and the acquisition of consus.health, a German healthcare management consultancy. These transactions reflect Accenture's commitment to improving healthcare management, which is integral to pharmacy benefit management.
2. Bpifrance French Tech Accélération
- Website: bpifrance.com
- Type: Venture Capital
- Headquarters: Paris, Île-De-France, France
- Founded year: 2015
- Headcount: 1-10
- Number of deals in 2024: 198
- LinkedIn: bpifrance-french-tech-acc%c3%a9l%c3%a9ration
Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through a range of services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Notably, Bpifrance has been involved in transactions such as the acquisition of a majority stake in Healthy Group, the parent company of Aprium Pharmacie, which highlights its engagement in the pharmacy sector. Additionally, Bpifrance has participated in seed rounds for companies like Kenko and Livmed's, which may also have relevance in the healthcare and pharmacy benefit management context. These activities demonstrate Bpifrance's commitment to supporting innovation in the healthcare industry, making it a relevant player in the pharmacy benefit management space.
3. Index Ventures
- Website: indexventures.com
- Type: Venture Capital
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 1996
- Headcount: 51-200
- Number of deals in 2024: 67
- LinkedIn: index-ventures
Index Ventures is a venture capital firm founded in 1996, based in London, England. The firm invests in innovative startups across various sectors, including technology and healthcare. They provide capital and strategic support to entrepreneurs, helping them navigate the challenges of growing their businesses. Notably, Index Ventures has participated in significant funding rounds for healthcare-related companies, such as Truepill, which raised $10 million in a Series A round in 2019, indicating their interest in pharmacy benefit management solutions. Additionally, they have invested in Alan, a health insurance startup, which raised substantial funds in multiple rounds, showcasing their commitment to the healthcare sector. Their focus on building long-term partnerships with founders positions them as a supportive investor in the healthcare landscape, including pharmacy benefit management.
4. Seedcamp
- Website: seedcamp.com
- Type: Venture Capital
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 2007
- Headcount: 11-50
- Number of deals in 2024: 40
- LinkedIn: seedcamp_2
Seedcamp is a venture capital firm based in London, England, founded in 2007. The firm specializes in investing in early-stage startups across Europe, providing financial backing and support to founders in areas such as product-market fit, sales, and access to a vast network of investors. Seedcamp's focus is on technology-driven companies looking to innovate and grow. Notably, they participated in a funding round for Faks, a Paris-based med-tech company that raised €5 million to digitize pharmacies' communications with suppliers. This investment highlights Seedcamp's engagement in the pharmacy sector, which is relevant to pharmacy benefit management. Additionally, they have invested in other health-related startups, such as Elephant Healthcare, further demonstrating their interest in the healthcare and pharmacy landscape.
5. Wolters Kluwer
- Website: wolterskluwer.com
- Type: Corporate
- Headquarters: Alphen Aan Den Rijn, South Holland, Netherlands
- Founded year: 1836
- Headcount: 10001+
- Number of deals in 2024: 4
- LinkedIn: wolters-kluwer
Wolters Kluwer N.V. is a leading information services company based in Alphen Aan Den Rijn, South Holland, Netherlands, founded in 1836. The company specializes in providing software solutions and services across various professional sectors, including healthcare, legal, tax, accounting, finance, and compliance. In the healthcare domain, Wolters Kluwer Health has made strategic acquisitions to enhance its offerings, including the acquisition of Pharmacy OneSource, a prominent SaaS provider in the hospital pharmacy market, which underscores their commitment to improving pharmacy operations and management. Additionally, their acquisition of UpToDate, an electronic clinical information resource, and Health Language, Inc., a medical terminology content vendor, further solidifies their role in supporting healthcare professionals with critical information and tools. These transactions highlight Wolters Kluwer's focus on enhancing productivity and compliance in the healthcare sector, making them a relevant investor in the pharmacy benefit management space.
6. EQT Group
- Website: eqtgroup.com
- Type: Private Equity
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1994
- Headcount: 1001-5000
- Number of deals in 2024: 30
- LinkedIn: eqt-partners
EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in various investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the healthcare sector, including the acquisition of MHC Asia Group, which manages corporate healthcare benefits in Southeast Asia, and GeBBS Healthcare Solutions, a company focused on healthcare services. Additionally, EQT's investment in LBX Pharmacy highlights its commitment to the pharmacy benefit management industry. These transactions demonstrate EQT's strategic focus on expanding its healthcare investments, particularly in areas related to pharmacy benefit management.
7. Octopus Ventures
- Website: octopusventures.com
- Type: Venture Capital
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 2008
- Headcount: 51-200
- Number of deals in 2024: 37
- LinkedIn: octopus-ventures
Octopus Ventures is a London-based venture capital firm founded in 2008, focusing on backing founders and startups across a diverse range of sectors, including B2B Software, Bio, Climate, Consumer, Deep Tech, Fintech, and Health. They provide funding and strategic support to entrepreneurs, helping them navigate the challenges of building and scaling their businesses. Notably, Octopus Ventures has been involved in significant transactions within the health sector, such as leading a €10.1 million Series A funding round for Quit Genius, a company dedicated to helping individuals quit addictions through digital therapy. Additionally, they participated in multiple funding rounds for Pelago, a company focused on substance use management, which raised substantial amounts in Series A, B, and C rounds. These investments highlight Octopus Ventures' commitment to health-related innovations, which are relevant to pharmacy benefit management.
8. Apax
- Website: apax.com
- Type: Private Equity
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 1981
- Headcount: 201-500
- Number of deals in 2024: 8
- LinkedIn: apax-partners
Apax Partners LLP is a private equity firm based in London, England, specializing in managing investments across technology, internet/consumer, healthcare, and services sectors. Founded in 1981, Apax collaborates with management teams of high-potential companies to drive growth and innovation. The firm serves institutional investors seeking to enhance their capital through strategic investments in private equity funds. Notably, Apax has made significant acquisitions in the healthcare sector, including GENEX Services, a leading provider of integrated managed care services, and The TriZetto Group, Inc., which focuses on healthcare IT solutions. These transactions highlight Apax's commitment to investing in companies that play a crucial role in healthcare management, including pharmacy benefit management.
9. Partech
- Website: partechpartners.com
- Type: Venture Capital
- Headquarters: Paris, Île-De-France, France
- Founded year: 1982
- Headcount: 51-200
- Number of deals in 2024: 24
- LinkedIn: partech
Partech Partners is a venture capital firm founded in 1982, based in Paris, Île-De-France, France. They specialize in providing funding and support to startups across various sectors, particularly in technology. Partech operates globally and has a diverse portfolio of companies. Notably, they have invested in health-related startups such as Reliance Health, a Nigerian e-health business that raised $40 million in a Series B round, and Alan, a French health insurance startup that has raised significant funding. These transactions highlight Partech's engagement in the health sector, which is relevant to pharmacy benefit management, as these companies are involved in improving healthcare access and insurance solutions.
10. Bgf
- Website: bgf.co.uk
- Type: Venture Capital
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 2011
- Headcount: 51-200
- Number of deals in 2024: 53
- LinkedIn: bgfinvestments
BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses in the UK and Ireland. BGF addresses the funding gap in the market through minority investments and extensive support services. Notably, BGF has invested in Pharmacy2U, an online-only pharmacy that has secured multiple rounds of funding from BGF, including a £7m investment to enhance its home delivery service for NHS patients. This investment has enabled Pharmacy2U to significantly scale its operations, dispensing up to 700,000 prescription items a month. BGF's involvement in Pharmacy2U highlights its commitment to supporting businesses that are pivotal in the pharmacy benefit management landscape, making it a relevant player in this sector.
11. SoftBank Investment Advisers
- Website: visionfund.com
- Type: Venture Capital
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 2017
- Headcount: 201-500
- Number of deals in 2024: 14
- LinkedIn: softbank-investment-advisers
SoftBank Investment Advisers, also known as the SoftBank Vision Fund, is a venture capital firm based in London, England, founded in 2017. The firm specializes in investing in technology-focused companies, particularly those innovating in artificial intelligence and health tech. Among their notable transactions, SoftBank led a $200 million Series E funding round for Alto Pharmacy, a digital pharmacy that has rapidly expanded its market presence and revenue. They also participated in a $250 million Series D funding round for Alto, demonstrating their strong commitment to the pharmacy sector. Additionally, SoftBank has invested in Collective Health, which raised $205 million to enhance its health benefits management services across the United States. These investments reflect SoftBank's strategy to support growth-stage companies that are transforming healthcare delivery and pharmacy benefit management.
12. The Access Group
- Website: theaccessgroup.com
- Type: Corporate
- Headquarters: Loughborough, England, United Kingdom (UK)
- Founded year: 1991
- Headcount: 5001-10000
- Number of deals in 2024: 12
- LinkedIn: accessgroup
The Access Group is a corporate investor based in Loughborough, England, founded in 1991. It is a business software company that provides a range of IT solutions, including care management software, recruitment CRM systems, and payroll systems, serving over 100,000 organizations across various sectors. Notably, The Access Group has made strategic acquisitions to enhance its offerings in the healthcare sector, including the acquisition of iCareHealth (UK) Ltd in October 2018, which focuses on clinical case management and pharmacy-integrated electronic medication administration records. This acquisition reflects their commitment to improving healthcare software solutions, which is relevant to pharmacy benefit management. Additionally, they have acquired other companies like Alcuris and DutySheet Ltd, although these are less directly related to pharmacy benefit management. Overall, The Access Group's activities indicate a growing interest in healthcare technology, particularly in areas that could support pharmacy benefit management processes.
13. Nordic Capital
- Website: nordiccapital.com
- Type: Private Equity
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1989
- Headcount: 201-500
- Number of deals in 2024: 10
- LinkedIn: nordic-capital
Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, with a strong emphasis on healthcare and technology. Nordic Capital partners with management teams to drive growth and operational improvements in its portfolio companies, focusing on creating long-term value and sustainability. Notably, they have been involved in significant transactions relevant to the pharmacy benefit management context, such as the acquisition of Inovalon Holdings, Inc. for approximately $7.3 billion, which enhances their portfolio in healthcare data analytics. Additionally, their recent acquisition of a majority stake in IntegriChain, a pharma tech firm, further solidifies their commitment to the healthcare sector, particularly in areas that intersect with pharmacy benefit management.
14. Aon
- Website: aon.com
- Type: Corporate
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 1987
- Headcount: 10001+
- Number of deals in 2024: 2
- LinkedIn: aon
Aon plc is a professional services firm specializing in risk management and human capital solutions, founded in 1987 and headquartered in London, England. With over 10,000 employees, Aon operates globally, providing a range of services including insurance broking, risk analytics, and consulting. Aon has made several strategic acquisitions to enhance its capabilities in health and benefits services, which are crucial in the pharmacy benefit management sector. Notable transactions include the acquisition of Benefits Corredores de Seguros Ltda in June 2023, aimed at strengthening its Health Solutions capabilities in Chile, and the acquisition of The Farmington Company in April 2020, which focused on enrollment solutions and voluntary benefits. These transactions reflect Aon's commitment to expanding its footprint in health-related services, including pharmacy benefit management.
15. Cvc
- Website: cvc.com
- Type: Private Equity
- Headquarters: Luxembourg
- Founded year: 2005
- Headcount: 1001-5000
- Number of deals in 2024: 16
- LinkedIn: cvc-capital-partners
CVC Capital Partners is a prominent investment firm founded in 2005, based in Luxembourg, specializing in private equity, credit, secondaries, and infrastructure. With approximately €193 billion in assets under management for over 1000 clients, including pension funds and institutional investors, CVC aims to deliver sustainable value and growth through strategic investments. Notable transactions include the acquisition of Icario, a health action company, which aligns with healthcare initiatives, and Universal Health International, indicating a focus on health-related sectors. Additionally, their acquisition of System C and involvement with Alvogen, a company engaged in pharmaceutical services, further highlight their interest in the healthcare landscape, which is closely related to pharmacy benefit management.
16. 3i Group plc
- Website: 3i.com
- Type: Private Equity
- Headquarters: London, England, United Kingdom (UK)
- Founded year: 1945
- Headcount: 201-500
- Number of deals in 2024: 3
- LinkedIn: 3i-group-plc
3i Group plc is a London-based private equity and infrastructure investment firm founded in 1945. The firm specializes in providing capital and expertise to mid-market companies, focusing on sustainable growth. With a diverse portfolio and a strong international presence, 3i Group aims to create value for its stakeholders through strategic investments. Notably, 3i has been involved in significant transactions within the pharmacy benefit management context, including leading a $7.5 million Series C financing round for Wellpartner, a company that provides pharmacy benefit management services. They also participated in a $16.1 million Series D round for Wellpartner, further demonstrating their commitment to the sector. Additionally, their acquisition of betapharm Arzneimittel GmbH in 2003 highlights their interest in pharmaceutical companies, which are integral to the pharmacy benefit management landscape.
17. Ardian
- Website: ardian.com
- Type: Private Equity
- Headquarters: Paris, Île-De-France, France
- Founded year: 1996
- Headcount: 1001-5000
- Number of deals in 2024: 21
- LinkedIn: ardian
Ardian is a prominent investment management firm founded in 1996, specializing in private equity, real assets, and credit solutions. With a global presence and a commitment to sustainable finance, Ardian provides tailored investment strategies to institutional investors, family offices, and pension funds. In 2024, Ardian entered into exclusive negotiations to acquire a majority stake in Healthy Group, the parent company of Aprium Pharmacie, which has over €1.6 billion in sales and is focused on growth and innovation in the pharmacy sector. This acquisition highlights Ardian's strategic interest in pharmacy benefit management. Additionally, Ardian previously invested in Santédiscount by atida, further solidifying its involvement in the pharmacy and healthcare industries. These transactions reflect Ardian's capability to create lasting value for its clients while actively participating in the pharmacy benefit management landscape.
Pharmacy Benefit Management Insights: Key Investors in Europe
| Investor | Headquarter | Size | Founded | Deals 2024 |
|---|---|---|---|---|
| Accenture | Dublin, Dublin, Ireland | 10001+ | 2001 | 51 |
| Bpifrance French Tech Accélération | Paris, Île-De-France, France | 1-10 | 2015 | 198 |
| Index Ventures | London, England, United Kingdom (UK) | 51-200 | 1996 | 67 |
| Seedcamp | London, England, United Kingdom (UK) | 11-50 | 2007 | 40 |
| Wolters Kluwer | Alphen Aan Den Rijn, South Holland, Netherlands | 10001+ | 1836 | 4 |
| EQT Group | Stockholm, Stockholm, Sweden | 1001-5000 | 1994 | 30 |
| Octopus Ventures | London, England, United Kingdom (UK) | 51-200 | 2008 | 37 |
| Apax | London, England, United Kingdom (UK) | 201-500 | 1981 | 8 |
| Partech | Paris, Île-De-France, France | 51-200 | 1982 | 24 |
| Bgf | London, England, United Kingdom (UK) | 51-200 | 2011 | 53 |
| SoftBank Investment Advisers | London, England, United Kingdom (UK) | 201-500 | 2017 | 14 |
| The Access Group | Loughborough, England, United Kingdom (UK) | 5001-10000 | 1991 | 12 |
| Nordic Capital | Stockholm, Stockholm, Sweden | 201-500 | 1989 | 10 |
| Aon | London, England, United Kingdom (UK) | 10001+ | 1987 | 2 |
| Cvc | Luxembourg | 1001-5000 | 2005 | 16 |
| 3i Group plc | London, England, United Kingdom (UK) | 201-500 | 1945 | 3 |
| Ardian | Paris, Île-De-France, France | 1001-5000 | 1996 | 21 |
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