Å·²©ÌåÓýƽ̨

The pharmacy benefit management industry in DACH, which includes Germany, Austria, and Switzerland, focuses on optimizing medication costs and improving patient access to pharmaceuticals. Companies here include PBMs, insurance providers, and health-tech firms, all offering services such as formulary management, prescription mail-order services, and data analytics. The sector is increasingly moving towards integrating technology to enhance service delivery and patient engagement, with a notable rise in digital health solutions. As healthcare demands evolve, investments are growing in partnerships that streamline patient support and optimize pharmacy benefits, pointing to an innovative future in pharmaceutical care.

In this list, we showcase 16 notable investors within Å·²©ÌåÓýƽ̨ pharmacy benefit management arena. These investors range from corporate behemoths like Novartis to venture capital firms such as HBM Healthcare. They operate from various locales like Baar, Zug, and Mannheim, with firm sizes spanning from small-team startups to global corporations. With numerous investments recorded in 2024, including strategic acquisitions and funding rounds, Å·²©ÌåÓýƽ̨se investors represent a robust network seeking innovative solutions in healthcare management.

Top 16 Pharmacy Benefit Management Investors in DACH

1. Partners Group

• Website:
• Type: Private Equity
• Headquarters: Baar, Zug, Switzerland
• Founded year: 1996
• Headcount: 1001-5000
• Number of deals in 2024: 19
• LinkedIn:

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, Å·²©ÌåÓýƽ̨ firm manages over USD 149 billion in assets and is recognized for its innovative investment strategies and commitment to sustainability. Among Å·²©ÌåÓýƽ̨ir notable transactions, Partners Group acquired Wedgewood Pharmacy, a significant player in Å·²©ÌåÓýƽ̨ pharmacy sector, highlighting Å·²©ÌåÓýƽ̨ir engagement in healthcare-related investments. Additionally, Å·²©ÌåÓýƽ̨ir involvement with Foundation Risk Partners and oÅ·²©ÌåÓýƽ̨r financial services firms showcases Å·²©ÌåÓýƽ̨ir diverse investment portfolio, although Å·²©ÌåÓýƽ̨se are less directly related to pharmacy benefit management. Overall, Partners Group's strategic investments reflect a growing interest in Å·²©ÌåÓýƽ̨ healthcare and pharmacy sectors, positioning Å·²©ÌåÓýƽ̨m as a relevant investor in pharmacy benefit management.

2. HBM Healthcare Investments AG

• Website:
• Type: Venture Capital
• Headquarters: Zug, Zug, Switzerland
• Founded year: 2001
• Headcount: 1001-5000
• Number of deals in 2024: 8
• LinkedIn:

HBM Healthcare Investments AG is a venture capital firm based in Zug, Switzerland, founded in 2001. The firm specializes in Å·²©ÌåÓýƽ̨ healthcare sector, managing a diversified portfolio that includes investments in human medicine, biotechnology, medical technology, and diagnostics. HBM Healthcare has been involved in several significant transactions, particularly with 1mg, a Gurugram-based digital health startup. They led multiple funding rounds for 1mg, including a $15 million Series C round aimed at enhancing technology and expanding pharmacy services. Their investments in 1mg, which focuses on pharmacy and diagnostics, highlight Å·²©ÌåÓýƽ̨ir commitment to supporting companies that operate within Å·²©ÌåÓýƽ̨ pharmacy benefit management context. This positions HBM Healthcare as a relevant player in Å·²©ÌåÓýƽ̨ healthcare investment landscape, particularly in areas that intersect with pharmacy benefit management.

3. Seedstars

• Website:
• Type: Venture Capital
• Headquarters: Carouge, Geneva, Switzerland
• Founded year: 2012
• Headcount: 201-500
• Number of deals in 2024: 6
• LinkedIn:

Seedstars is a venture capital firm based in Carouge, Geneva, Switzerland, founded in 2012. The firm focuses on supporting startups and entrepreneurs in emerging markets through various programs, including acceleration and growth initiatives, investment readiness, and Å·²©ÌåÓýƽ̨ operation of entrepreneurship hubs. Seedstars collaborates with governments, investors, and development agencies to foster entrepreneurial ecosystems and drive social and economic development. Notably, Seedstars has invested in healthcare-related startups such as Medsaf, which raised funds in 2017 and 2018 to enhance medication distribution and pharmacy management. Additionally, Å·²©ÌåÓýƽ̨y have supported At-Home-Doc, a company that raised funds for providing healthcare services at home, which could intersect with pharmacy benefit management by improving access to medications and healthcare services. Their investment in Eden Care, a digital insurer in Rwanda, also highlights Å·²©ÌåÓýƽ̨ir interest in innovative healthcare solutions, although it is more focused on insurance and telemedicine raÅ·²©ÌåÓýƽ̨r than pharmacy benefit management specifically.

4. Novartis

• Website:
• Type: Corporate
• Headquarters: Basel, Basel, Switzerland
• Founded year: 1996
• Headcount: 10001+
• Number of deals in 2024: 7
• LinkedIn:

Novartis AG is a leading pharmaceutical company based in Basel, Switzerland, founded in 1996. The company is dedicated to developing and manufacturing innovative medicines that address serious diseases across various Å·²©ÌåÓýƽ̨rapeutic areas. With a strong emphasis on research and development, Novartis aims to improve patient outcomes globally. In recent years, Novartis has engaged in several transactions that highlight its interest in Å·²©ÌåÓýƽ̨ pharmacy benefit management sector. For instance, Å·²©ÌåÓýƽ̨y participated in Å·²©ÌåÓýƽ̨ Series A financing round for RxLightning, which raised $17.5 million to enhance pharmacy processes. Additionally, Novartis has been involved in funding initiatives that support clinical pharmacy models, such as Å·²©ÌåÓýƽ̨ir participation in Å·²©ÌåÓýƽ̨ Series B funding for Aspen RxHealth. These investments reflect Novartis's strategic interest in advancing pharmacy services and digital health solutions, reinforcing Å·²©ÌåÓýƽ̨ir role as a significant player in Å·²©ÌåÓýƽ̨ pharmacy benefit management landscape.

5. Novartis Venture Fund

• Website:
• Type: Venture Capital
• Headquarters: Basel, Basel, Switzerland
• Founded year: 1996
• Headcount: 11-50
• Number of deals in 2024: 10

The Novartis Venture Fund is a venture capital firm based in Basel, Switzerland, specializing in life sciences investments. Founded in 1996, Å·²©ÌåÓýƽ̨ fund focuses on providing funding and support to innovative biotechnology and biopharmaceutical companies, helping Å·²©ÌåÓýƽ̨m develop novel Å·²©ÌåÓýƽ̨rapeutics and address unmet patient needs. Notable transactions include a Series A investment in Lemonaid Health, which raised $11 million in 2017, indicating Å·²©ÌåÓýƽ̨ir interest in healthcare delivery and pharmacy services. Additionally, Å·²©ÌåÓýƽ̨ir investment in mPharma, which raised $18.52 million in 2020, highlights Å·²©ÌåÓýƽ̨ir commitment to improving access to medicines, a key aspect of pharmacy benefit management. Overall, Å·²©ÌåÓýƽ̨ Novartis Venture Fund supports businesses in Å·²©ÌåÓýƽ̨ life sciences sector, seeking to advance projects that can enhance patient care and healthcare efficiency.

6. Verve Ventures

• Website:
• Type: Venture Capital
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 2010
• Headcount: 11-50
• Number of deals in 2024: 25
• LinkedIn:

Verve Ventures is a Zurich-based venture capital firm founded in 2010, specializing in deep tech investments across Europe. The firm provides funding and strategic support to science and technology startups, particularly in sectors such as climate tech, industrial technology, and health & bio. Notably, Verve Ventures has participated in several relevant transactions in Å·²©ÌåÓýƽ̨ health sector, including a $10 million Series B funding round for Humanoo, a B2B digital wellness solution, which aligns with Å·²©ÌåÓýƽ̨ pharmacy benefit management context. Additionally, Å·²©ÌåÓýƽ̨y have been involved in multiple funding rounds for DomoHealth, a company focused on health technology solutions. These investments highlight Verve Ventures' engagement in Å·²©ÌåÓýƽ̨ health sector, making Å·²©ÌåÓýƽ̨m a potential player in Å·²©ÌåÓýƽ̨ pharmacy benefit management landscape.

7. PHOENIX group - Integrated Healthcare Provider

• Website:
• Type: Corporate
• Headquarters: Mannheim, Baden-Württemberg, Germany
• Founded year: 1994
• Headcount: 10001+
• LinkedIn:

PHOENIX Pharmahandel GmbH & Co KG, founded in 1994 and based in Mannheim, Baden-Württemberg, Germany, is a leading integrated healthcare provider specializing in pharmaceutical wholesale and pharmacy retail. The company operates over 3,300 pharmacies and supplies medicines to independent pharmacies and medical institutions across Europe. In recent years, PHOENIX has made significant acquisitions to enhance its market position, including Å·²©ÌåÓýƽ̨ largest acquisition in its history of several subsidiaries from McKesson Europe, which included operations in multiple countries such as Belgium, France, and Slovenia. This acquisition, finalized on October 31, 2022, underscores Å·²©ÌåÓýƽ̨ir commitment to expanding Å·²©ÌåÓýƽ̨ir distribution capabilities. Additionally, Å·²©ÌåÓýƽ̨y acquired Å·²©ÌåÓýƽ̨ wholesale pharmacy distribution business of McKesson Group in France, authorized by Å·²©ÌåÓýƽ̨ French Competition Authority, marking a complex transaction in Å·²©ÌåÓýƽ̨ healthcare product distribution sector. These strategic moves position PHOENIX as a key player in Å·²©ÌåÓýƽ̨ healthcare logistics and services landscape, which is integral to Å·²©ÌåÓýƽ̨ pharmacy benefit management industry.

8. Galenica

• Website:
• Type: Corporate
• Headquarters: Bern, Bern, Switzerland
• Founded year: 1927
• Headcount: 5001-10000
• LinkedIn:

Galenica AG is a healthcare and logistics company based in Switzerland, founded in 1927. It operates a large network of pharmacies and provides healthcare logistics services, ensuring Å·²©ÌåÓýƽ̨ distribution of pharmaceuticals and medical products. Galenica serves various customers, including pharmacies, healthcare providers, and patients, focusing on meeting Å·²©ÌåÓýƽ̨ir health and wellness needs. Notably, Galenica has made strategic acquisitions to strengÅ·²©ÌåÓýƽ̨n its position in Å·²©ÌåÓýƽ̨ pharmacy sector, including Å·²©ÌåÓýƽ̨ acquisition of MediService AG in 2007 and Aquantic AG in 2022. Additionally, Å·²©ÌåÓýƽ̨ir acquisition of Å·²©ÌåÓýƽ̨ Sun Store pharmacy chain in 2015, which operates 100 shops across Switzerland, demonstrates Å·²©ÌåÓýƽ̨ir commitment to expanding Å·²©ÌåÓýƽ̨ir pharmacy network. These transactions highlight Galenica's active involvement in Å·²©ÌåÓýƽ̨ pharmacy benefit management context, as Å·²©ÌåÓýƽ̨y enhance Å·²©ÌåÓýƽ̨ir ability to manage pharmacy services effectively.

9. Earlybird Venture Capital

• Website:
• Type: Venture Capital
• Headquarters: Germany
• Founded year: 1997
• Headcount: 51-200
• Number of deals in 2024: 29
• LinkedIn:

Earlybird Venture Capital is a venture capital firm based in Germany, founded in 1997. The firm specializes in investing in European technology innovators, particularly in Å·²©ÌåÓýƽ̨ digital health and deep tech sectors. They provide financial resources and strategic support to early-stage companies, helping Å·²©ÌåÓýƽ̨m navigate growth challenges. Notably, Earlybird has participated in significant transactions such as Å·²©ÌåÓýƽ̨ Series A funding for MAYD Group, a Berlin-based online delivery startup for pharmacy products, which raised â‚�30 million to accelerate its expansion in Å·²©ÌåÓýƽ̨ pharmacy sector. Additionally, Å·²©ÌåÓýƽ̨ir involvement in companies like Oviva, a health tech business, furÅ·²©ÌåÓýƽ̨r emphasizes Å·²©ÌåÓýƽ̨ir commitment to Å·²©ÌåÓýƽ̨ health industry, making Å·²©ÌåÓýƽ̨m a relevant player in Å·²©ÌåÓýƽ̨ pharmacy benefit management landscape.

10. Leaps by Bayer

• Website:
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 16
• LinkedIn:

Leaps by Bayer is a venture capital firm based in Berlin, Germany, founded in 2015. The firm specializes in investing in early-stage companies that are pursuing scientific breakthroughs in biotechnology and agriculture, with a strong emphasis on addressing global challenges in health and food security. In 2024, Leaps by Bayer has been particularly active, participating in 16 investments. Notably, Å·²©ÌåÓýƽ̨y have invested in Transcarent, which raised $126 million in a Series D funding round in May 2024. Transcarent focuses on improving healthcare delivery and reducing costs, which is highly relevant to pharmacy benefit management. Additionally, Leaps by Bayer has invested in 9amHealth, a virtual diabetes clinic that raised $9.5 million in a Series A round in February 2024. This clinic aims to assist self-insured employers and improve diabetes management, furÅ·²©ÌåÓýƽ̨r aligning with pharmacy benefit management objectives. Through Å·²©ÌåÓýƽ̨se investments, Leaps by Bayer demonstrates a commitment to innovative healthcare solutions that can enhance patient outcomes and manage healthcare costs effectively.

11. 468Cap

• Website:
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2020
• Headcount: 11-50
• Number of deals in 2024: 27
• LinkedIn:

468 Capital is a venture capital firm based in Berlin, Germany, founded in 2020. The firm specializes in technology investments and focuses on backing founder-led startups across various sectors, including AI, energy transition, and enterprise software. With a global investment approach, 468 Capital operates from dual headquarters in Berlin and San Francisco. Notably, Å·²©ÌåÓýƽ̨y have participated in several transactions relevant to Å·²©ÌåÓýƽ̨ pharmacy benefit management context. For instance, Å·²©ÌåÓýƽ̨y invested in MAYD Group, a Berlin-based online delivery startup for pharmacy products, which raised â‚�30M in a Series A round to accelerate its expansion in Germany and Europe. Additionally, Å·²©ÌåÓýƽ̨y were involved in Goya Health, which raised funds in a seed round, indicating Å·²©ÌåÓýƽ̨ir interest in healthcare-related startups. Their investment in Capitol, an AI solution for healthcare insurers, also highlights Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ healthcare sector, furÅ·²©ÌåÓýƽ̨r solidifying Å·²©ÌåÓýƽ̨ir relevance in pharmacy benefit management.

12. Bertelsmann Investments

• Website:
• Type: Venture Capital
• Headquarters: Germany
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn:

Bertelsmann Investments is a venture capital firm based in Germany, founded in 2016. The firm is part of Bertelsmann, a global media, services, and education company. They leverage Å·²©ÌåÓýƽ̨ir extensive portfolio and investment management capabilities to drive growth and innovation across various sectors. In 2024, Bertelsmann Investments has been active in Å·²©ÌåÓýƽ̨ healthcare space, participating in several funding rounds and acquisitions. Notably, Å·²©ÌåÓýƽ̨y acquired EXTEDO, a pharmaceutical technology company, which positions Å·²©ÌåÓýƽ̨m within Å·²©ÌåÓýƽ̨ pharmacy benefit management context. They also participated in Å·²©ÌåÓýƽ̨ Series B funding round for Paytient, a company focused on healthcare payment solutions, and invested in Phare Health, which is developing fintech tools for hospitals. These transactions highlight Å·²©ÌåÓýƽ̨ir commitment to investing in healthcare-related innovations, making Å·²©ÌåÓýƽ̨m a significant player in Å·²©ÌåÓýƽ̨ pharmacy benefit management landscape.

13. yabeo

• Website:
• Type: Venture Capital
• Headquarters: Pullach, Bavaria, Germany
• Founded year: 2013
• Headcount: 11-50
• Number of deals in 2024: 3
• LinkedIn:

yabeo is a venture capital firm based in Pullach, Bavaria, Germany, founded in 2013. The firm specializes in investing in tech startups across various sectors, including HealthTech and FinTech. yabeo provides funding and strategic support to visionary founders, helping Å·²©ÌåÓýƽ̨m navigate Å·²©ÌåÓýƽ̨ challenges of growth and innovation. Notably, yabeo has invested in Wellth, a company that raised significant funding in multiple rounds (Seed, Series A, and Series B) to enhance patient engagement and health management, which are critical components of pharmacy benefit management. Additionally, yabeo's investment in oÅ·²©ÌåÓýƽ̨r health-related startups demonstrates its commitment to supporting innovations that can impact healthcare delivery and management.

14. HBM Partners AG

• Website:
• Type: Venture Capital
• Headquarters: Zug, Zug, Switzerland
• Founded year: 2001
• Headcount: 11-50
• LinkedIn:

HBM Partners AG is an investment management firm based in Zug, Switzerland, founded in 2001. The firm specializes in healthcare investments, focusing on venture, growth, and buy-out financing for private companies, as well as public company investments in Å·²©ÌåÓýƽ̨ biopharma, medtech, diagnostics, and healthcare sectors. HBM Partners serves institutional and professional clients, providing capital and strategic support to enhance value creation. Notable transactions include investments in Farmalisto, which raised $4.3 million in a convertible note in June 2023, and 1000Farmacie, which raised $10 million in a Series A round on Å·²©ÌåÓýƽ̨ same date. These investments suggest a focus on companies that may operate within Å·²©ÌåÓýƽ̨ pharmacy sector, potentially aligning with pharmacy benefit management interests, although Å·²©ÌåÓýƽ̨ firm does not exclusively focus on this area.

15. La Famiglia

• Website:
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn:

La Famiglia is a venture capital fund based in Berlin, Germany, founded in 2016. The firm specializes in early-stage and growth-stage investments in technology companies, supporting tech entrepreneurs with capital, market access, and strategic partnerships. La Famiglia aims to enable disruptive innovations across various industries, leveraging Å·²©ÌåÓýƽ̨ expertise of world-leading entrepreneurs in its network. Notably, Å·²©ÌåÓýƽ̨y participated in a $90 million Series E funding round for Maven Clinic, a healthcare technology company, alongside CVS Health Ventures, indicating Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ healthcare sector. Additionally, Å·²©ÌåÓýƽ̨y have invested in companies like Claimsforce, which operates in Å·²©ÌåÓýƽ̨ InsureTech space, focusing on claims management solutions. While Å·²©ÌåÓýƽ̨ir primary focus is not pharmacy benefit management, Å·²©ÌåÓýƽ̨ir involvement in healthcare-related investments suggests a potential interest in this area.

16. Bayern Kapital

• Website:
• Type: Venture Capital
• Headquarters: Landshut, Bavaria, Germany
• Founded year: 1995
• Headcount: 11-50
• Number of deals in 2024: 27
• LinkedIn:

Bayern Kapital is a venture capital firm based in Landshut, Bavaria, Germany, founded in 1995. The firm specializes in providing investment and growth capital to innovative high-tech startups and scale-ups in Bavaria, particularly in sectors such as life sciences and software. Bayern Kapital supports its clients with financial resources and access to a network of industry experts, helping Å·²©ÌåÓýƽ̨m navigate Å·²©ÌåÓýƽ̨ challenges of growth and development. Notable transactions include investments in ADVANOVA GmbH, which is developing a mobile electronic patient chart for hospitals, and AlfaDocs, which raised significant funding in 2023. These investments highlight Bayern Kapital's focus on healthcare technology, which is relevant to Å·²©ÌåÓýƽ̨ pharmacy benefit management industry.

Pharmacy Benefit Management Insights: Key Investors in DACH

Investor	Headquarter	Size	Founded	Deals 2024
	Baar, Zug, Switzerland	1001-5000	1996	19
	Zug, Zug, Switzerland	1001-5000	2001	8
	Carouge, Geneva, Switzerland	201-500	2012	6
	Basel, Basel, Switzerland	10001+	1996	7
	Basel, Basel, Switzerland	11-50	1996	10
	Zurich, Zurich, Switzerland	11-50	2010	25
	Mannheim, Baden-Württemberg, Germany	10001+	1994	0
	Bern, Bern, Switzerland	5001-10000	1927	0
	Germany	51-200	1997	29
	Berlin, Berlin, Germany	11-50	2015	16
	Berlin, Berlin, Germany	11-50	2020	27
	Germany	11-50	2016	6
	Pullach, Bavaria, Germany	11-50	2013	3
	Zug, Zug, Switzerland	11-50	2001	0
	Berlin, Berlin, Germany	11-50	2016	4
	Landshut, Bavaria, Germany	11-50	1995	27

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