Bioalpha aims to have 30-plus pharmacies within 12 months

PETALING JAYA: Bioalpha Holdings Bhd, which opened its first Constant Pharmacy outside Klang Valley in Tanah Merah, Kelantan, in July, plans to grow the number of pharmacies in the country to beyond 30 in the next 12 months.
Currently it has 14 Constant pharmacies.
The expansion will be done through a franchise system so as not to burden the group’s balance sheet, it said in a statement yesterday.
The retail pharmacy chain serves as a key channel to promote the group’s house brands – Apotec and NuShine – which have a wide range of herbal and non-herbal health supplement products.
In tandem with the expected increase in the number of outlets, Bioalpha plans to roll out 10 additional house brand products for Constant pharmacies.
Of the 14 Constant pharmacies, five are franchised outlets. Bioalpha’s management is currently reviewing applications from prospective franchisees to take up the remaining nine outlets in the Klang Valley.
Meanwhile, on the corporate front, Bioalpha’s proposed one- for-three bonus issue is in progress, with completion expected by September, subject to shareholders’ approval at the EGM to be held on Aug 19.