Gschäftsbericht 2018

96 | Galenica financial statements 2018 Finance Notes to the consolidated financial statements of the Galenica Group Business combinations in thousand CHF 2018 2017 Cash and cash equivalents 13,771 16,268 Trade receivables 5,749 21,950 Inventories 4,248 9,433 Property, plant and equipment 1,548 1,419 Intangible assets 582 4,035 Deferred tax assets 382 559 Other current and non-current assets 1,102 925 Trade payables (2,337) (15,808) Financial liabilities (1,665) (7,450) Deferred tax liabilities (87) (1,050) Employee benefit liabilities (1,819) (2,540) Other current and non-current liabilities (1,819) (6,235) Fair value of net assets 19,655 21,506 Goodwill 58,137 27,820 Fair value of previously held interests (22,700) — Purchase consideration 55,092 49,326 Cash acquired (13,771) (16,268) Offset against loans (financial assets) (2,400) — Deferred consideration (1,332) — Net cash flow from current business combinations 37,589 33,058 Payment of consideration due to previous business combinations 150 2,700 Net cash flow 37,739 35,758 Business combinations and disposals 2017 Acquisition of pharmacies. Galenicare Holding acquired 100% of the interests in pharmacies in various locations in Switzer- land. Upon acquisition, most of these pharmacies were merged with Galenicare Ltd. The purchase consideration amounting to CHF 21.4 million was fully settled in cash. The fair value of the net identifiable assets amounted to CHF 7.8 million at the acquisition date. The goodwill of CHF 13.6 million was allocated to the business sector Retail and corresponds to the added value of the pharmacies based on their locations. Transaction costs were insig- nificant. Acquisition of Pharmapool Ltd. On 10 January 2017 Galexis acquired 100% of the shares in the Swiss company Pharmapool Ltd. Pharmapool is a wholesaler to doctors who supplies and supports medical practices with medicines, consumables, labora- tory products and furnishings. The company also manages the Pharmapool central pharmacy. The purchase consideration amounting to CHF 27.9 million was settled in cash. The fair value of the net identifiable assets amounted to CHF 13.7 million at the acquisition date. The goodwill of CHF 14.2 million was allocated to the business sector Services and corresponds to the added value based on the acquirer-specific synergies expected to arise from the acquisi- tion, the growth in market share and the know-how of the employees gained. Transaction costs of CHF 0.3 million were recognised in other operating costs. Disposal of Triamed Ltd. On 1 March 2017 Galenica disposed of its Triamed ® practice software activities, a management software solution for doctors’ practices developed and marketed by HCI Solutions to Swisscom. The consideration amounting to CHF4.4 million was settled in cash. The carrying amount of the disposed net assets amounted to CHF 1.5 million including cash and cash equivalents of CHF 1.1 million. The net profit from this transaction of CHF 2.9 million has been recognised in other income.