Hippocrates Holding

Hippocrates Holding S.p.A. is an Italian holding company that operates as the country's largest independent pharmacy platform. The company focuses on acquiring, managing, and developing a network of pharmacies, primarily located in Northern and Central Italy. Founded in March 2018 by co-CEOs Davide Tavaniello and Rodolfo Guarino, the company was established to capitalize on regulatory changes in the Italian pharmacy sector. Both founders brought experience from the financial world, with Tavaniello previously at UBS and Guarino at The Carlyle Group and UBS, where they met. They identified an opportunity to create a consolidated network of private pharmacies with an industrial and long-term strategy.

The company's business model revolves around acquiring local pharmacies and integrating them into its network under the brand "Lafarmacia.". This model aims to enhance the performance and operations of the individual pharmacies by leveraging scale and industrial platform capabilities. Hippocrates provides capital, expertise, and a network of relationships to foster the growth of the pharmacies in its portfolio. The pharmacies are a critical component of the Italian National Healthcare System (NHS), serving as the first point of access for healthcare advice and the exclusive channel for prescription drug sales. The business generates revenue through the retail of pharmaceuticals and other health and beauty products sold within its network. The company also develops its own private-label products, including supplements, dermo-cosmetics, and sun care items.

The Milan-headquartered company began with the backing of approximately 60 Italian entrepreneurial families and has since attracted significant institutional investment. A major milestone occurred in 2021 when Antin Infrastructure Partners, a private equity firm, acquired a majority stake, providing substantial support for Hippocrates' long-term industrial project. This partnership has fueled rapid expansion, growing the network from over 120 pharmacies in 2020 to over 400 by early 2025. Hippocrates has secured significant financing to support its growth, including a debt package of over €900 million in 2022 and additional capital in 2025, bringing total raised credit lines to over €1.25 billion. The company aims to exceed 600 pharmacies by the end of 2025.

Keywords: pharmacy network, healthcare retail, pharmaceutical investment, pharmacy acquisition, Italian healthcare, private pharmacy platform, community pharmacies, healthcare infrastructure, proximity healthcare, prescription drugs, Davide Tavaniello, Rodolfo Guarino, Antin Infrastructure Partners, Lafarmacia., social infrastructure, pharmaceutical retail, healthcare services