Hippocrates

What Hippocrates does

Hippocrates Holding S.p.A. is an Italian pharmacy retail platform founded in March 2018 by Davide Tavaniello and Rodolfo Guarino, headquartered in Milan. The company operates a network of 629 owned pharmacies under the flagship brand "Lafarmacia." along with sub-formats including "Lafarmaciapunto" and "Lafarmacia.Montesanto," spanning 58 provinces across 14 Italian regions with a current workforce of 3,274 employees. Its core offering combines physical pharmacy retail with digital channels acquired through the 2021 purchase of online pharmacy Top Farmacia, plus an integrated services portfolio including telemedicine consultations, point-of-care anemia screening (with PharmaNutra), thyroid screening (with Merck), and colon cancer screening (with AUSL/Federfarma).

The business operates a multi-revenue-stream model anchored on retail pharmaceutical and wellness product sales across owned locations, augmented by pay-as-you-go professional services such as the €3-per-test anemia screening. Distribution relies on a "Cedi la tua farmacia" acquisition program that consolidates independent pharmacies into the Lafarmacia. format, supported by a 10,000+ sqm distribution warehouse operated via subsidiary Hippo Distribuzione. The group also extends revenue through the Pharmercure home-delivery partnership, Pharmacare home-healthcare alliance, and B2B screening collaborations with regional health authorities.

Ownership rests with French private equity firm Antin Infrastructure Partners, which acquired a majority stake in 2021; the company is incorporated as a Società Benefit (Benefit Company) under Italian Law 208/2015 since January 2024 and obtained B Corp certification in September 2025. The group is financed by over €900 million in debt arranged in 2024 with a consortium of institutional lenders, providing the capital base for continued acquisition-driven network expansion.

Name

Hippocrates

Legal name

Hippocrates Holding S.p.A.

Website

https://hippocratesholding.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Hippocrates Holding is an Italian pharmacy retail platform operating 629 owned pharmacies under the Lafarmacia. brand across 58 Italian provinces, serving consumer and healthcare-service customers through physical retail, digital omnichannel channels, and integrated screening and telemedicine services.

Ownership category

akta.pro rank

Product category

Retail Pharmacy

NAICS

Pharmacies and Drug Retailers (45611), Drugs and Druggists' Sundries Merchant Wholesalers (42421)

SIC

Retail-Drug Stores And Proprietary Stores (5912)

akta.pro primary industry

Retail & Community Pharmacies (Chain/Independent) (HLAFALAA)

akta.pro secondary industry

Health, Wellness & Pharmacy Marketplaces (CRAFABAF)

Keywords

• Retail pharmacy services
• Pharmaceutical retail network
• Pharmacy healthcare services
• Telemedicine consultations
• Preventive health screening

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel

Revenue model

1. Pharmacy Retail: Retail pharmacy operations through owned pharmacy network under the Lafarmacia. and Lafarmaciapunto brands, selling pharmaceutical products, health and wellness items, and providing pharmacy services
2. Pharmacy Services: Healthcare services including telemedicine consultations, screening services (thyroid exams, anemia prevention, colon cancer screening), health diagnostics, and pharmacy services
3. Diagnostic Testing Services: Point-of-care testing services such as the Masimo SET pulse oximetry technology for hemoglobin monitoring, offered at select pharmacies for €3 per test

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Hippocrates Holding operates the 'Lafarmacia.' retail pharmacy network in Italy, comprising 629 owned pharmacies across 58 provinces. The company sells pharmaceutical and health/wellness products and provides in-pharmacy healthcare services including telemedicine consultations, anemia/thyroid/colon cancer screening, prescription dispensing, and pharmaceutical home delivery through the Pharmercure partnership. The group pursues an omnichannel strategy integrating physical pharmacies with the acquired online pharmacy Top Farmacia.

Product overview

Hippocrates Holding operates as Italy's largest pharmacy retail group, organized around its flagship brand 'Lafarmacia.' — a network of 629 owned pharmacies serving as the primary pharmacy retail product — supplemented by sub-formats such as 'Lafarmaciapunto' (renovated neighborhood pharmacies) and premium 'Lafarmacia. Flagship Store' locations. The portfolio extends beyond dispensing into a growing suite of health services modules integrated into the pharmacy network: telemedicine consultations, anemia screening (with PharmaNutra), thyroid screening (with Merck), and colon cancer screening (with Ausl/Federfarma), alongside a prescription delivery partnership with Pharmercure. The Group acquired online pharmacy Top Farmacia to build its omnichannel capabilities. As a B Corp-certified Società Benefit, the holding operates a 10,000 sqm logistics warehouse and a whistleblowing platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Lafarmacia. Primary pharmacy retail brand of Hippocrates Holding, operating a network of 629 owned pharmacies across Italy offering prescription medications, OTC products, health consultations, and pharmacy services to general consumers.
• Lafarmaciapunto Sub-brand pharmacy format representing renewed or renovated neighborhood pharmacy locations within the Hippocrates network, offering pharmaceutical products and health services to local consumers.
• Lafarmacia. Flagship Store Premium-format pharmacy store concept showcasing the full range of Lafarmacia. services and product offerings, including the flagship location in Milan city center.
• Top Farmacia (Online Pharmacy) Online pharmacy platform acquired by Hippocrates in October 2021 to integrate e-commerce capabilities with the physical pharmacy network, enabling Italian consumers to purchase pharmaceutical and health/wellness products online.
• Telemedicine Services Remote health consultation services offered through the Lafarmacia. pharmacy network, enabling consumers to access urgent healthcare coordination including 24/7 emergency support. In 2023, the service managed 1,300 'yellow codes' and 60 'red codes' for critical situations.
• Anemia Screening Service Anemia prevention and screening service offered in collaboration with PharmaNutra S.p.A. at 49 selected Lafarmacia. pharmacies, using Masimo SET pulsioximetry technology for rapid, painless hemoglobin testing without blood draw, priced at €3 per test.
• Thyroid Screening Service Thyroid examination and screening service developed in partnership with Merck, available at participating pharmacies where staff have completed specialized training and earned the 'Esperta nel controllo della Tiroide' (Expert in Thyroid Control) recognition.
• Colon Cancer Screening Service Early colon cancer screening service operating in collaboration with Ausl di Piacenza and Federfarma, where participating pharmacies collect and return screening kits as part of the territorial health service network in Italy.
• Pharmaceutical Home Delivery (Pharmercure Partnership) Pharmaceutical home delivery service offered through the partnership with Pharmercure, enabling patients (especially elderly, disabled, and immobile) to receive prescription medications from Lafarmacia. pharmacies at their homes, available through more than 100 pharmacies nationwide.

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Top FarmaciacoreStrategic or Co-development Partner · 28 October 2021Italian online pharmacy acquired to enhance Hippocrates' omnichannel strategy, integrating physical and digital customer touchpoints across the pharmacy network.
• PharmercurecoreStrategic or Co-development PartnerPartnership for pharmaceutical home delivery services. Pharmercure operates a digital platform enabling pharmacies to deliver medications to patients' homes, serving elderly, disabled, and patients unable to visit pharmacies.
• PharmaNutra S.p.A.minorStrategic or Co-development PartnerCollaboration for anemia prevention project using Masimo SET pulse oximetry technology in 49 select pharmacies. PharmaNutra provides scientific expertise and support for the screening program.
• Croce Rossa Italiana (Italian Red Cross)minorStrategic or Co-development PartnerPartnership for COVID-19 medication home delivery to those in need during pandemic, and CRI4Kids project supporting families in economic difficulty with supplies for infants.
• Associazione SportdipiùminorStrategic or Co-development PartnerPartnership supporting sports inclusion for people with disabilities, funding programs for alpine skiing, wheelchair tennis, para ice hockey, and wheelchair curling.
• MerckminorStrategic or Co-development PartnerCollaboration for thyroid examination services, providing training to pharmacy staff on thyroid health and enabling pharmacies to achieve 'Esperta nel controllo della Tiroide' (Expert in thyroid control) recognition.
• Telefono DonnaminorStrategic or Co-development PartnerPartnership to fight domestic violence through pharmacist training program to recognize signs of abuse and support women in difficulty.
• NATIVAminorImplementation/ SI/ Consulting PartnerRegenerative Design Company that accompanied Hippocrates in its B Corp certification process and transition to Società Benefit status.
• PharmacareminorStrategic or Co-development PartnerPartnership for home healthcare assistance, providing qualified and insured professionals who arrive at patients' homes within hours at no additional cost.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Alliance Healthcare: Pharmaceutical wholesaler and pharmacy retail operator (Walgreens Boots Alliance subsidiary) in Italy and Europe. Comparable given its dual wholesale-retail model in the Italian pharmacy sector.
• Celesio / McKesson Europe: Major European pharmaceutical distributor and pharmacy operator (parent of Lloyds Pharmacy). Comparable as a large-scale pharmacy retail and wholesale platform serving European markets.
• Phoenix Group: European pharmaceutical wholesale and retail pharmacy giant operating multiple pharmacy chains (including BENU). Highly comparable given its vertically integrated pharmaceutical distribution (relevant to Hippo Distribuzione subsidiary) and chain pharmacy operations.
• Walgreens Boots Alliance: Global pharmacy retail giant with significant European footprint via Alliance Healthcare and Boots. Comparable as a multinational pharmacy chain operator with both retail and wholesale capabilities.

Direct peers

• Dr. Max: Pan-European pharmacy chain backed by PE (Penta Investments) with significant Italian presence. Directly comparable as a PE-backed multi-country consolidator of retail pharmacies, pursuing similar acquisition-driven growth strategies.
• DocMorris: European online pharmacy and mail-order pharmacy operator. Comparable to Hippocrates' Top Farmacia online channel given its focus on digital pharmacy retail across Europe.
• PHOENIX Pharma Italia: Italian subsidiary of PHOENIX Group, operating pharmaceutical distribution and pharmacy retail in Italy. Directly comparable given its overlap in both wholesale (relevant to Hippo Distribuzione) and retail pharmacy operations in the Italian market.

Emerging players

• Shop Apotheke: European online pharmacy with strong digital focus. Comparable to Hippocrates' Top Farmacia e-commerce channel as a digital-first European pharmacy operator.

Regional players

• Amavita / Galenicare (Galexis): Swiss pharmacy chain and pharmaceutical distributor (part of Galexis/Novartis group). Comparable as a vertically integrated European pharmacy retail and wholesale platform, though operating primarily in Switzerland.
• Farmacia San Carlo: Italian pharmacy chain competitor with multiple retail locations. Comparable as a domestic Italian pharmacy operator competing in the same regional markets.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInit.linkedin.com/company/hippocrates-holding
• Xx.com/hippocratesorg

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors16 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hippocrates