DocMorris shares rose 6.5 percent to 18.61 francs, extending an advance over the past thirty days. The stock touched its highest level in two years, bringing its gain since the start of the year to over 193 percent. The upward move was driven by an upgrade from Zürcher Kantonalbank analysts, who raised their rating on the stock to overweight from market weight. Shares of Redcare Pharmacy, the primary competitor, also advanced by 2.1 percent, with the two equities trading in an increasingly synchronized pattern.
DocMorris announced that its subsidiary TeleClinic will acquire the Swiss telemedicine market leader Medi24 from Allianz Partners. Deutsche Bank described the transaction as strategically attractive, noting it represents an initial step in TeleClinic's international expansion and supports the further development of DocMorris's digital services division. Medi24 holds an established position in Switzerland, securing contractual first-access telemedical coverage for more than 4.6 million insured individuals through partnerships with the country's largest health insurers. This figure accounts for approximately 50 percent of the insured population in Switzerland, prompting Deutsche Bank analysts to anticipate a positive market reaction.
The share price has practically equalized the highest price target of 17.50 francs issued by Research Partners, and continued momentum supports expectations for further gains. According to AWP Analyser, the consensus includes five buy ratings alongside four hold ratings.
German subsidiary TeleClinic announced the acquisition of Medi24 on November 4 to expand its digital healthcare operations. The purchase price falls in the low double-digit millions in Swiss francs, according to DocMorris, and will be funded through internal cash alongside debt and equity. The transaction is scheduled to close in December 2026. Medi24, headquartered in Liebefeld near Bern, maintains partnerships with numerous Swiss health insurers to provide telemedical services to over 4.6 million insured persons, representing roughly half of all insured individuals in Switzerland.
Through this acquisition, DocMorris intends to expand its digital services segment. Medi24's anticipated annual revenue is approximately equal to that of TeleClinic, meaning the combined entities will nearly double their revenue footprint. The acquisition is projected to generate a substantial contribution to TeleClinic's operational earnings before interest, taxes, depreciation, and amortization within its first year. DocMorris anticipates cost synergies by integrating TeleClinic technology into Medi24's infrastructure.
Both companies will maintain operational independence within their respective home markets. The acquisition marks the initial step in deploying TeleClinic's technology platform across additional European nations. Previously operating in Switzerland under the Zur Rose name, the Thurgauer group sold its Swiss pharmacy business to Migros in early 2023 for approximately 360 million francs, enabling it to reduce debt and focus on prescription medicines in Germany. The acquisition of Medi24 marks a return to the Swiss market in a different sector, focusing on telemedical services rather than mail-order pharmaceuticals.
