Online pharmacy DocMorris is returning to the Swiss market through an acquisition, with its German subsidiary TeleClinic purchasing Swiss telemedicine provider Medi24 from Allianz Partners to expand its digital healthcare services business.
DocMorris announced on Wednesday that the purchase price is in the low double-digit millions in Swiss francs, financed through internal funds alongside debt and equity. The transaction is expected to be completed in December 2026.
Medi24, headquartered in Liebefeld near Bern, maintains partnerships with numerous Swiss health insurers. The company provides contractual telemedical initial access to more than 4.6 million insured individuals, representing approximately half of all insured persons in Switzerland, according to DocMorris.
With this acquisition, DocMorris aims to further expand its Digital Services division. Medi24's expected annual revenue is approximately equal to that of TeleClinic, meaning the combination would nearly double revenue. Furthermore, the acquisition is projected to make a substantial contribution to TeleClinic's operational result (EBITDA) within the first year. DocMorris anticipates cost synergies, particularly by integrating TeleClinic's technology into Medi24's infrastructure.
TeleClinic and Medi24 are to remain operationally independent in their respective home markets. DocMorris stated that the acquisition also marks the initial step in deploying TeleClinic's technology platform across additional European countries.
DocMorris previously operated in the Swiss market under its former name, Zur Rose. In early 2023, the Thurgau-based group sold its Swiss pharmacy business to Migros for approximately 360 million francs, enabling the company to largely pay down its debt and focus on the prescription drug business in Germany.
With the acquisition of Medi24, DocMorris is returning to Switzerland in a different business sector. Unlike the previous venture, the focus is on telemedicine services rather than mail-order pharmaceuticals.
