Russian pharmacy chain 36.6 has announced that it will merge with rival chain A.V.E
Consolidation in a fragmented sector
The major shareholders in 36.6 Artyom Bektemirov and Sergei Krivosheev have agreed with the owners of A.V.E to merge their businesses. The deal will be funded by the issue of new shares.
The combined business will create Russia's largest pharmacy chain with over 900 outlets and sees further consolidation in what is a fragmented sector.
The healthcare sector is facing some tough challenges, but also some tremendous opportunities as the pace of change grows throughout the industry and around the globe. Whilst this deal creates Russia's largest pharmacy chain, we fully expect to see more deals announced in more markets during 2014.