FPT Long Châu, a newly established company with a chartered capital of VND 673.65 billion, is poised to revolutionize the healthcare industry in Vietnam. Headquartered in Ho Chi Minh City, at 379-381 Hai Ba Trung, Ward Vo Thi Sau, District 3, the company is led by Ms. Nguyen Bach Diep as its legal representative.
The formation of this separate entity, FPT Long Châu Limited Company, with a focus on managing investments in Long Châu, indicates FRT’s plans to sell its pharmaceutical chain. This strategic move was alluded to by the management during the recent annual general meeting.
At the assembly, Ms. Nguyen Bach Diep shared her vision for FPT Long Châu, aiming to create a comprehensive healthcare ecosystem. She elaborated, “FPT Long Châu is envisioned as a Health Care ecosystem, encompassing the full spectrum of health-related services. This encompasses preventive healthcare, diagnosis, treatment, and follow-up care, including health insurance. With FPT Long Châu, we aim to touch our customers’ lives at multiple points throughout their healthcare journey: through physical pharmacies, online purchases, and more.”
To support its ambitious healthcare investment strategy, FPT Long Châu plans to raise capital by offering a private placement of up to 10% of its shares to investors.
Ms. Diep expressed confidence in the success of FPT Long Châu, backed by a customer base of over 15 million, a network of 2,000 pharmacies, and the technological prowess of the FPT Corporation.
Addressing the establishment of the new entity, FRT stated, “FRT is undergoing a restructuring process by establishing an investment company to manage its ownership in Long Châu, paving the way for future capital mobilization. This reorganization does not result in any profit or loss on a consolidated basis.”
Returning to Long Châu’s healthcare strategy, preventive healthcare, according to Ms. Diep, is a critical component with a potential scale of billions of dollars. Early diagnosis and treatment of conditions like hepatitis can prevent the onset of cancer, saving significant costs and challenges for individuals. Long Châu has already taken steps in this direction with its vaccine centers.
Additionally, Long Châu offers remote medical examination and treatment services, including the upcoming 247 home care service, which will be particularly beneficial for elderly individuals. As Ms. Diep explained, “Today’s youth prefer living independently but often worry about their aging parents. With Long Châu’s 247 service, young people can rest assured that their parents are being taken care of. Through this service, parents only need to take a daily photo, which Long Châu will use to diagnose their health status and alert family members of any concerning developments.”
FRT also intends to expand its vaccine center operations, with plans to open 100 centers by 2024.
Since its acquisition of four pharmacies in 2017, Long Châu has experienced remarkable growth, now boasting over 1,700 retail outlets and leading the pharmaceutical retail industry in terms of scale. It is also the first pharmaceutical chain to announce operational profitability, while its peers struggle to break even.
In the first half of 2024, the FPT Long Châu pharmacy chain achieved impressive results, with revenue growth of 67% compared to the same period in 2023, reaching VND 11,521 billion and contributing 63% to FRT’s total revenue. Despite continuously opening new pharmacies, the company maintained its operational efficiency, with an average revenue of VND 1.2 billion per pharmacy per month.
“Long Chau: The One-Stop Solution for Seniors and Their Caregivers”
Of course, the young people feel worried when their parents stay home alone. Generally, let Long Châu take care of this task, said Nguyễn Bạch Điệp, the Chairman of FPT Retail.
