Acquisition by Alfa Framtak hf. (AU 26 ehf.) of Lyf og heilsa hf

• Get document
• Case number: 13/2025
• Date: 4/4/2025
• Company:
  • Alfa framtak ehf.
  • AU 26 ehf.
  • Lyf og Heilsa hf.
  • LHH 25. ehf
• Sectors:
  • Healthcare and social affairs
• Policy Area:
  • Mergers
• Summary

  The Icelandic Competition Authority has completed its assessment of the acquisition of AU 26. ehf., a holding company owned by a fund operated by Alfa Framtak hf. ("Alfa Framtak"), of Lyf og heilsa hf. ("Lyf og heilsa"). Alfa Framtak is an independent manager of specialized funds that operates two venture funds, while Lyf og heilsa operates pharmacies throughout the country under the names Lyf & heilsa, Apótekarinn, Garðs Apótek and Apótek Hafnarfjarðar. The merger will not lead to a concentration in the pharmacy market, as the merging parties operate in different markets.  On the other hand, companies in the Alfa Framtak group serve pharmacies, including Lyf og heilsa and numerous of its competitors. The merger is therefore mainly a vertical merger and a merger of conglomerates. After investigating the merger, the ICA concluded that there was no reason to intervene in the merger as there was no evidence that a dominant position was being created or strengthened or that the merger would otherwise lead to a significant distortion of competition.  The merging parties had also informed that there were no longer any non-compete clauses in the pharmacists' contracts and that they would not be implemented in the future according to the company's internal rules.