France-based healthcare company, Hygie31, is expanding its European presence with the acquisition of a majority stake in Navi Group, Ireland’s leading independent managed pharmacy services platform.
The partnership will see Hygie31, which is already present in France, Spain and Italy and affiliated to over 3,900 independent pharmacies with a combined turnover of €5.0bn (US$5.8bn), bring its scale – and pan-European purchasing power – expertise into the Irish market, positioning Navi for further expansion.
“This partnership with Hygie31 is about taking the capabilities Navi has built in Ireland and combining them with significant international expertise, investment and best practice to create even greater value for our pharmacy customers,” said Navi founder and CEO John Carroll. “Together with Hygie31, we will continue to grow Navi at home, and we also plan to expand our managed pharmacy services platform into new markets.”
Founded in 2009, Navi Group brings together over 600 pharmacies, which is nearly 30% of the Irish market, and generates €700m in business volume through its platforms. It also operates an international wholesale business in the supply of pharmaceuticals across Europe, which provide Hygie31 with a platform to expand its business further across Europe, particularly the UK.
“This landmark transaction marks a major milestone in Hygie31’s international development,” said Hervé Jouves, chairman of Hygie31 Group. “Following our successful expansion in France, Spain and Italy, Ireland represents a highly dynamic market and a natural gateway into the English-speaking world.”
Hygie31 was acquired by Latour Capital, alongside Bpifrance as a minority shareholder, in 2022 from Rothschild & Co. 2025, private credit provider Corinthia Global Management, was lead lender in Latour’s refinancing of Hygie31.
Mansfield Advisors (Ali Bahram, Victor Chua, Abhishek Patel) advised Hygie31.
