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China Kangda Food Company eyes pharmacies in China to grow business

CHINA Kangda Food Company Limited said that it plans to open or acquire pharmacies in developed cities in China to expand business in the retail healthcare and/or pharmaceutical sectors.

The move is aimed at supplementing and accelerating the development of the group's existing sales channels for its brand-new high-value-added healthcare products.

The group on Tuesday said in a filing to the bourse operator that it plans to engage a team of professional medical personnel to ensure the consistency of the operation and services to be provided by the pharmacies.

A management company in partnership with independent third parties may also be established to manage and operate the pharmacies, which will receive management fees in return.

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The board expects the move to supplement and expand existing sales channels for the biological products manufactured by the group. It will also allow the group to venture into the retail healthcare and/or pharmaceutical industry which has shown strong growth potential. And it will enable the group to enhance its business portfolio and acquire an additional source of income.