Remedio drugstores rely on aggressive expansion

Drugstore network Remedio, a part of the Montero group of firms, intends to operate 300 drugstores by 2009 (an increase from the current 58) by acquiring smaller chains and opening stores within hypermarkets. According to market information, the average price of a drugstore (excluding those in hypermarkets) stands at around 200,000 euros. “The business was devised to witness a stable increase, therefore we intend to reach 300 drugstores by 2009. We will use both our own funds, which will cover investments for the first year and a half, but we are, of course, thinking of also using credits,” said Amalia Georgescu, general manager of Remedio. Remedio’s shareholders consist of the Tudorache family (50%) and an investment vehicle registered in Iceland, Pharma Investment (50%). Amalia Georgescu became manager of Remedio in November 2006, and took over the reins of the business from the shareholders, who now only remain involved in the development strategy.