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Lifetime buys Pill & Powder
Special Correspondent
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To launch an online support service
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BANGALORE:
Lifetime Healthcare Pvt. Ltd., promoter of LifeKen, an organised pharma retail chain, has acquired Pill & Powder for an undisclosed amount.
With this acquisition, LifeKen becomes the second largest pharma chain in South India. LifeKen takes over 11 stores of Pill & Powder, thus taking its total chain of stores to 60, with 40 being in Bangalore.
M. C. Kini, Chief Executive Officer, LifeKen, said the company planned to touch 200 stores by the first quarter of 2007-08 through acquisitions, franchisee and owner-store routes. It had ambitious plans of having 700 stores in the next three years, for a pan-India presence.
He said the equity funds with the company were sufficient to put up 200 stores and investments for this would go up to Rs. 40 crore.
Mr. Kini said the company would be launching shortly a call centre and an online support service to propel the pharma retail business.
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