The leading buying group for independent pharmacies in the Netherlands
Founded in 2011, Nafinco is the leading buying group for independent pharmacies in the Netherlands. It provides its clients with support and combined purchasing power in drug procurement, inventory management, logistics, and business intelligence. Under Freshstream’s guidance, the company has grown substantially, supporting over 200 pharmacies with collective purchasing agreements with pharmaceutical wholesalers. It also provides digital services such as e-pharmacy solutions and smart software solutions to drive efficiencies within its network of pharmacies.
The value creation plan for Nafinco consists of four pillars:
- Accelerate customer acquisition through outbound business development
- Expand digital service offering including omnichannel services
- Improve margins through real-time product advice
- Provide advisory and financing solutions to facilitate pharmacy acquisitions
With significant headroom for growth among independent pharmacies in the Netherlands, our first priority for Nafinco was to continue to accelerate its organic growth. Where most of Nafinco’s growth was historically generated through word of mouth, the company shifted its approach to proactive outbound business development and marketing. We were able to further accelerate growth by acquiring another, smaller, independent purchasing platform.
Nafinco has significantly increased its digital service offering through the acquisition of ApotheekCoach, rebranded to Nafinco Digital. As part of this digital proposition, Nafinco introduced an omnichannel platform under the label of Netwerk Apotheken. This platform allows its associated pharmacies to service its patients both offline and online and help them keep track of their prescriptions. Another essential service developed under our ownership is Nafinco’s real-time drug selection tool, which allows pharmacists to benefit from the best discounts and procure the most affordable products for its customers.
Finally, we undertook a strategic joint venture with a pharmacy investment fund, helping young pharmacists to acquire their businesses over time and remain independent.
On an organisational level, Nafinco has grown its team from 15 to 30, significantly improved the robustness and security of its IT systems, and recruited a new CEO to enable the gradual wind down of its founding team while maintaining business continuity.
