Pelion's activities

On September 4th 1997, the Polish Securities and Exchange Commission approved the introduction of new and existing shares of Medicines S.A. (Pelion’s former name) to public trading, and on February 17th 1998 the Warsaw Stock Exchange bell announced the first listing of the Company shares. That was a milestone in the company’s history. Pelion was the 136th company in general but the first pharmaceutical distribution company to go public on the WSE. From then on, the company has been growing rapidly.

Pelion entered the Stock Exchange as a local pharmaceutical wholesaler and the proceeds from the IPO enabled it to implement an ambitious expansion plan. Built from scratch with domestic capital, Pelion is now Poland’s largest healthcare company, with its subsidiaries providing innovative, quality services to patients, pharmacies, hospitals and manufacturers.

“We are one of the three largest pharmaceutical distributors in Poland, serving over 10,000 pharmacies. Seeking to ensure full availability of pharmaceuticals and the highest standards of service, our pharmacies enjoy the trust of four million patients in Poland and Lithuania. We have also become a leader in sales to hospitals, supplying drugs for every third hospital patient,” notes Jacek Szwajcowski, President of the Pelion Management Board and Pelion’s co-founder. “We greatly owe our current position to the strategic decision to enter the WSE. Our success is also the success of the Stock Exchange,” he added.

Over its 20 years’ presence on the WSE, Pelion has recorded a 32-fold growth in annual revenue, to PLN 9.2bn, and its workforce expanded from 330 staff in 1997 to over 9,400 today, which is more than the headcount of most multinational companies operating in Poland. Pelion is a stable employer offering development opportunities to all staff.

Pelion successfully exploited the opportunities offered by the Stock Exchange. The stock market float provided a huge cash injection. As a listed company, Pelion has also learnt how to implement and apply best practices, high standards of market communication and transparent management methods. Owing to its presence on the WSE, the company has achieved business maturity, as evidenced by its inclusion in the elite RESPECT Index of companies managed in a sustainable and responsible manner.

“We have built the corporate culture on our own, with no support from a foreign parent. We have learnt everything ourselves from scratch,” says Pelion CEO.

The conference featured the panel discussion ‘20 years of Pelion’s partnership with and growth on the capital market’, attended by the President of the Pelion Management Board and recognised experts, including Wiesław Rozłucki, the first President of the Warsaw Stock Exchange, during whose tenure Pelion made its debut as a publicly traded company, Paweł Dobrowolski, Chief Economist of the Polish Development Fund, Piotr Biernacki, Vice President of the Management Board of the Polish Association of Listed Companies and President of the Management Board of the Reporting Standards Foundation, and Dariusz Dziubiński, Analyst with Trigon DM S.A. Among other topics, the panellists discussed the role of the Stock Exchange in the development of Polish companies, the importance of local entrepreneurs for the economy, and the prospects and challenges facing issuers nowadays. The debate also touched upon market and regulatory factors of critical importance to company valuations, as well as the role of transparent and responsible management in raising the investment attractiveness of businesses. The discussion was moderated by Marcin Piasecki, editor of the Rzeczpospolita daily.

The 20 years’ presence on the WSE has been a major stepping stone in Pelion’s history, putting the company on the path for rapid growth

“Our example attests to the crucial role played by the Stock Exchange in the development of businesses and the economy at large and in promoting entrepreneurship in Poland. We entered the Stock Exchange as a local wholesaler and we are leaving it as one of Poland’s largest private companies. We have delivered all the objectives that we set ourselves 20 years ago. We have made good use of the money raised from investors, and shareholders could count on us to pay out dividends from profit. This is a perfect example of a win-win situation. Delisting Pelion from the Stock Exchange is a natural step in the development of our company,” said Jacek Szwajcowski.

The Pelion CEO stressed that the company remains committed to active participation in building a strong economy and advancing a modern healthcare system in Poland. These objectives are in line with the Responsible Development Plan, which recognises innovative companies as Poland’s key asset.

“We are glad that what we do fits with the Development Ministry’s strategic document. We made a conscious decision to operate in the highly challenging, demanding and sensitive healthcare industry. Healthcare is of key importance for the future of our country and its people. We want to remain a leader of our industry and build a company that fits well with the plan to promote entrepreneurship and healthcare development in Poland,” said the President of the Pelion Management Board.

With a sense of responsibility for the home healthcare market, Pelion will seek to achieve further growth by implementing innovative solutions and delivering state-of-the-art services to patients, customers and trading partners to best meet their needs and expectations. All our activities will be consistent with our mission to promote a long and quality life and our key values of responsibility, trust and leadership. The experience and expertise gained over the 27 years of operating history provide a solid and stable foundation for the company.

The conference concluded with a speech by Zbigniew Molenda, Vice President of the Pelion Management Board and co-founder of the company, who thanked shareholders for their trust, capital invested and faith in the company’s growth potential, the Stock Exchange for the 20 years of growing together, and other capital market participants for partnership and collaboration.

For further information, please contact:

Pelion S.A. Press Office

Phone: (+48 42) 200 75 94

Fax: (+48 42) 200 75 35

Email: biuro_prasowe@pelion.eu 

Pelion was founded in 1990 on the initiative of Polish entrepreneurs and with Polish capital and has been an important contributor to Poland’s economy ever since. Pelion commenced its operations as a local pharmaceutical distributor. Today, it is Poland’s largest healthcare company and one of the leading pharmaceutical companies in Lithuania. Pelion provides services across all market segments (wholesale, retail sales and sales to hospitals), targeted at individual patients, pharmacies, hospitals, and manufacturers. It owns a broad portfolio of specialist companies that support the operations of its three core business lines. Through its subsidiaries, it manages Poland’s largest chain of pharmacies, is a leader of the Polish market of drug supplies to hospitals, and ranks among the top three pharmaceutical distributors in Poland. Pelion generates over PLN 9bn in consolidated annual revenue and provides stable employment to over 9,400 staff. It supports innovation to meet patients’ and customers’ expectations and has adopted a strategic approach to responsible and sustainable business conduct. For more information visit: www.pelion.eu