The joint venture way to business success

Business concept: A file picture showing the Caring pharmacy in Mid Valley Megamall. About 60 of the 106 stores are in joint ventures with the store pharmacist with CPGB retaining majority control.

JUST the night before last, I attended the annual dinner of Caring Pharmacy Group Bhd (CPGB). Themed ‘Back to School’, the ballroom had a school like atmosphere, staff decked in secondary school uniforms reminiscent of innocent shared laughters and non-stop chatter.

During his speech, the headmaster of Caring Pharmacy School was rather emotional as this was their first annual dinner held since the listing of the group in 2013. His management team had just been too busy adjusting to corporate requirements of managing a Bursa-listed corporation. It was a steep learning curve for this group of pharmacist partners.