KUALA LUMPUR: Private equity firm Creador has ventured into the pharmacy retail business via RedCap Pharmacy and is setting aside RM100mil to grow the chain into a major national player.
Brahmal Vasudevan, founder and CEO of Creador said: “As the Malaysian consumer becomes more sophisticated, there would be increasing healthcare needs and retail pharmacies will play an important role serving this need.”
“Based on our estimates, the Malaysia pharmacy space is still fairly under-penetrated. Creador sees an exciting opportunity to invest in and create a modern retail pharmacy offering world class experience for our customers.
“We have set aside RM100mil to support RedCap’s growth.”
In phase one, Creador acquired D’Apotic Pharmacy last April as the platform to grow this investment. D’Apotic has strong presence in Johor and is known for its quality service and product knowledge.
For phase two, Creador partnered with Ian Cruddas, who has been in Malaysian since the late 90s and was instrumental in building out some of the large retail chains in Malaysia.
“Together with our management team, Creador is committed to drive this transformation, leveraging on our experience in partnering with entrepreneurs across our key markets to build RedCap into a world class business,” added Brahmal.
Other successful consumer brands that Creador has invested in Malaysia include Old Town White Coffee, Bonia , GHL and CTOS.