Local drugstore chain Haltons will double its branch count by the end of the year to 30, months after it was bought out by Ghanaian tech firm mPharma.
Since the Sh500 million buyout in March, mPharma has opened additional six stores to reach 23, with plans to set up others across the country by the end of the year, according to founder Greg Rockson.
mPharma is also set to hire 30 more employees to drive the expansion. Currently Haltons is served by a workforce of about 55.
“We have already expanded since we acquired Haltons, and so far increased the network to 23 branches and we expect to end the year at 30 branches. We will continue to expand to towns like Kisumu, Mombasa and Nairobi low and middle income neighbourhoods. We have and will continue to invest millions of dollars into the business,” Mr Rockson told the Business Daily on the sidelines of the Goalkeepers event by Bill and Melinda Gates Foundation in New York.
mPharm helps pharmacies and medical suppliers manage stocks. Its Haltons buyout was announced in March.
“What motivated us to buy Haltons, the second biggest pharmacy chain in Kenya is that you will find their branches in neighbourhoods that are underserved. It is unlike other pharmacy chains that position themselves in upmarket neighbourhoods in Kenya,” he said.
“We want to build it into the biggest pharmacy chain in Kenya,” he added.
mPharma’s system is currently used by over 250 pharmacies in Kenya, Ghana, Nigeria, Zambia and Zimbabwe.