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New Straits Times – Focus Dynamics, LKL Ink Partnership For Pharmacy Chain Venture

KUALA LUMPUR: Focus Dynamics Group Bhd (FDG) and LKL International Bhd (LIB) areforming a partnership to roll out a lifestyle-based pharmacies chain venture in the Klang Valley and nationwide.

FDG through its subsidiary, Focus Medicare Sdn Bhd (FMSB) together with LIB will set up a dedicated joint-venture company for this new business with the former taking a majority stake of 60 per cent and LIB making up the remaining 40 per cent.The agreement will be finalised with commercial terms and investments within three months.

FDG intends to bring a new vision to the local pharmacy industry, together with LIB, by incorporating various aspects of its technological and digital concepts into what is traditionally an over-the- counter business. In addition to the normal supply of prescription and over-the-counter drugs, the pharmacies will stock nutritional supplements, non-GMO (genetically modified organism) dried goods and specialised nutritional food bundles, in ready to eat meals under the FDG brand, to provide a one-stop wellness retail point to health-conscious consumers. The companies said the pharmacies will be backed by an internally designed platform which allows for e-prescription, e-fulfillment and delivery of orders to customers’ doorsteps. “There is the growing realisation, that as individuals, we have to begin to look after ourselves more on a routine basis.

“This means more interest from consumers into home medical testing devices, nutritional supplements and other healthcare products,” both companies said in a joint statement. The marked shift in perception of preventive consumption in terms of well-being and health has been accelerated by the onset of Covid-19.

Statistics show that in 2019, the local dietary, vitamins and nutritional supplements market breached RM3 billion, with its figures growing double digit year-on-year. With the embracing of e-commerce as the new norm, sales and demand is expected to boom. FDG recently invested in LIB by acquiring a substantial stake earlier in the year as part of its long term strategy to be a mainstay in the medical consumables industry.

May 4, 2021

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