Clearwater has advised Pharma Santé Développement Groupe (PSD), an association for pharmacies on its debt restructuring and financing of pharmacy group, Optipharm.
Founded in 1998 and with over 1,000 members, Optipharm is an association for independent pharmacies that offer a range of benefits including a central purchasing system directly from laboratories, inventory services, training and support for pharmacists, and merchandising and layout stands for stores.
PSD is an integrated alliance of three sub-brands Pharma Santé Développement, NEP LA MARQUE and Pharmacade. With more than 1,300 pharmacy members and an accumulative turnover of €2.3bn, the group have a strong presence across France.
The group, headed by Philippe Besnard, brought Connect Pro, SofiPaca, Etoile Capital and Smalt Capital in 2018 with the ambition of becoming the major player for pharmacies.
This acquisition will enable PSD and Optipharm to become a leading pharmaceutical association with a combined membership of over 2,500 pharmacies.
