4. Business combinations
In the first half of 2022, the scope of consolidation has changed as a result of the following transactions:
Acquisition of pharmacies. Galenica acquired 100% of the interests in pharmacies in various locations in Switzerland. Upon acquisition, most of these pharmacies were merged with Galenicare Ltd.
The total purchase consideration amounted to CHF 10.4 million and was fully settled in cash. The fair value of the provisional net assets amounts to CHF 2.5 million at the acquisition date. The goodwill of CHF 7.9 million was allocated to the operating segment Products & Care and corresponds to the added value of the pharmacies based on their locations. Transaction costs were not material.
Business combinations
|
in thousand CHF |
Fair value |
|
Cash and cash equivalents |
1,967 |
|
Trade receivables |
855 |
|
Inventories |
475 |
|
Right-of-use assets |
2,158 |
|
Other current and non-current assets |
258 |
|
Trade payables |
–715 |
|
Lease liabilities |
–2,158 |
|
Other current and non-current liabilities |
–350 |
|
Fair value of net assets |
2,491 |
|
Goodwill |
7,943 |
|
Purchase consideration |
10,434 |
|
Cash acquired |
–1,967 |
|
Net cash flow from current business combinations |
8,467 |
Pro forma figures for acquisitions made in the first half of 2022
Since their inclusion in Galenica's scope of consolidation, the businesses acquired contributed net sales of CHF 4.6 million and an operating result (EBIT) of CHF 0.1 million to the Group's results. If these acquisitions had occurred on 1 January 2022, they would have contributed additional net sales of CHF 2.1 million and increased EBIT by CHF 0.4 million.