Cosmos Health Inc. announced on June 16 that it acquired I.Bikas General Partnership‘s distribution network.
I.Bikas General Partnership is a Greek pharmaceutical company that has been operating since 1986.
Cosmos Health is acquiring Bikas’s sales and distribution network for pharmaceutical and para-pharmaceutical products. The network, which currently generates an approximate annual turnover of $6.7 million, encompasses 50 pharmacies that cater to the everyday needs of individuals.
Cosmos Health Inc. is a global healthcare group that was incorporated in 2009 and is headquartered in Chicago, Illinois. The company is engaged in the importation, exportation, distribution and sale of pharmaceutical products.
This acquisition aims to further enhance efficiency and generate synergies with CosmoFarm’s existing state-of-the-art facility, which leverages robotic technologies to automate procurement, inventory management and order execution. With this acquisition, Cosmos’ annual revenue is projected to increase by more than $10 million, representing a more than 20% increase compared to FY 2022 levels.
According to data captured in the LevinPro HC database, this transaction represents the 19th acquisition of a healthcare product distributor during 2023.
