Interview with William Hon, GMD of Bioalpha Holdings Bhd.
KUALA LUMPUR: Bioalpha Holdings Bhd
aims to have 30 pharmacy outlets from the current 14 in the next 12 months, managing director William Hon said.
The integrated health supplements company intends to grow its pharmacy chain, Constant Pharmacy, on a franchise basis outside the Klang Valley, where price competition is less stiff, he said.
“We have identified Kelantan and Johor as our two immediate target markets,” he said in a statement on Thursday.
Each outlet is estimated to cost around RM750,000, depending on size and location.
Bioalpha plans to set up six pharmacies in Kelantan, Hon said, adding that it is in discussions with a prospective master franchisee in Johor.
“We hope to conclude the negotiations soon,” he said.
Bioalpha opened its first Constant Pharmacy outside the Klang Valley in Tanah Merah, Kelantan last month, marking its 14th pharmacy nationwide.
Hon expressed optimism on prospects for the new outlet, saying there are only eight pharmacies in the district serving a population of 120,000.
“The pharmacy to population ratio in Tanah Merah is very low at 1:13,333 compared to Kuala Lumpur of about 1:3,000,” he said.
Its second pharmacy in Kelantan is slated to open in Kota Bahru by year-end.
On its business in the Klang Valley, Ho said out of the total of 14 outlets, five are already franchised businesses.
“Management is currently reviewing applications from prospective franchisees to take up the remaining nine outlets,” he said.
Bioalpha also plans to roll out an additional 10 new home brand products to stir up consumer excitement and demand, Ho said. - Bernama
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