FPT Retail’s Healthcare Ecosystem Building Ambition
FPT Retail Joint Stock Company recently held its annual general meeting of shareholders in 2024, approving a revenue plan of VND 37,300 billion, an increase of 17%, and a pre-tax profit of VND 125 billion.
FPT Long Chau is expected to continue to be the “golden goose” of FPT Retail, with revenue expected to increase by 34%. In 2023, the pharmacy chain opened 560 new stores, with revenue increasing by 66%, bringing the contribution ratio to 50% of total consolidated revenue.
“Striking while the iron is hot,” Chairman of FPT Retail Nguyen Bach Diep said that according to the new direction chosen by the leadership, FPT Retail is determined to become a healthcare system company, aiming to provide all services in the “health life cycle”.
“The human health life cycle always begins with preventive medicine, which means disease prevention. Then, if we do get sick, we go for diagnosis. When the disease is found, we treat it, buy medicine, and then take care of ourselves at home. To ensure financial security for health, we have insurance,” said Ms. Bach Diep.
In the 6 stages of healthcare as presented by the leader, FPT Long Chau has implemented two areas: preventive medicine and pharmacy, corresponding to the Long Chau Vaccination Center chain and the Long Chau Pharmacy chain. The next two services to be launched by Long Chau this year are LC247 – supporting home health monitoring and drug underwriting.
Ms. Nguyen Bach Diep presents FPT Retail’s plan to build a comprehensive healthcare ecosystem.
“In General, Let Long Chau Take Care of It”
“After taking their medication, customers need to monitor their health developments at home. Therefore, Long Chau is preparing to launch a service called LC247 to provide home healthcare, scheduled to be launched in late Q3 – early Q4“, Ms. Bach Diep presented to the shareholders.
According to the Chairman of FPT Retail, 60-70% of Long Chau’s customers are people with chronic diseases such as cardiovascular disease, diabetes, musculoskeletal disorders, and stomach problems. They often have to see doctors to adjust their medication, take medication continuously to maintain their health indicators, and measure their blood pressure and blood sugar levels every day.
With the LC247 service, after taking their readings, customers simply take a picture and upload it to the app. The data will be read from the image and converted into digital form, stored, and put into a graph. From this graph, Long Chau will be able to determine whether the customer’s indicators are normal. Long Chau’s team of pharmacists will then contact the customer to instruct them on how to proceed.
“I see that most of you here are young people. Of course, you worry when your parents are at home with no one around. In general, let Long Chau take care of this for you.
Customers only need to take a picture of their readings and upload it every day, and Long Chau will let them know how they are doing. If there is something wrong, we will inform their relatives immediately“, said Ms. Bach Diep.
She also revealed that after LC247, FPT Long Chau will offer additional services in the future. Measuring and reporting indicators is free of charge. However, if customers want to see a doctor for a check-up or consultation, or for more in-depth care, there will be a telehealth service.
Regarding the remaining two areas in the 6 stages of healthcare, namely diagnostics and treatment, corresponding to testing centers and clinics, Ms. Bach Diep said that Long Chau also intends to participate in order to provide closed services for all customers.
Minh Anh
