Creador, a private equity firm focusing on long-term investments in the region, announced today its entry into the pharmacy retail business through RedCap Pharmacy (RedCap) and unveiled plans t grow the chain into a major national player.
To date, the chain operates 25 stores of which 8 are in the Klang Valley. The plan is for 70 pharmacies to be operating throughout the country by end 2016. They intend to expand their reach to 300 stores over the next 3 years.
Mr. 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 the need.” Creador has set aside RM100 million 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 Mr Ian Cruddas, who has been in Malaysia since the late 90s and was instrumental in building out some of the large retail chains in Malaysia. Mr. Ian Cruddas is the CEO and Managing Director of RedCap.
All RedCap stores will be led by professional pharmacists and a team that is 100% focused on product knowledge and customer service. RedCap is totally dedicated to health and about 30-40% of every store will be dedicated to consultation. Everyone walking into a RedCap Pharmacy will be able to feel the modern, fresh and informative environment.
