The pharmaceutical retail chain aims to create a healthcare ecosystem, providing accurate and comprehensive medical knowledge, and helping people access advanced medicine.
As one of the leading retail pharmacy chains in Vietnam,FPT Long Châu has been familiar to a large segment of Vietnamese consumers for over four years. Besides being a point of sale for genuine medicines and vaccinations, the company is also considered by many customers as a "preliminary health check-up point," with pharmacists seen as "family doctors," helping to diagnose and categorize patients from the very first step.
The Green Pharmacy - the core of a "great aspiration"
"More than just a pharmacy" is the definition that Ms. Nguyen Bach Diep, Chairwoman of the Board of Directors of FPT Retail and General Director of FPT Long Chau, has used to introduce her "brainchild" to partners and friends since its inception. The staff, experts, customers, and patients all view it as a destination for community health care and consultation, with pharmacists who are "like family."
FPT Long Châu reached the milestone of 1,600 pharmacies in December 2023 and currently owns a 45,000 m2 warehouse in Long An. Photo: FPT Long Châu
The entire team of 11,000 pharmacists are well-trained and hold valid certifications. Besides "selling medicine," they also help people understand their own health conditions, enabling them to receive timely and appropriate treatment. On the online platform, the FPT Long Châu application has reached 9 million downloads and over 9 million Zalo friends who use it for health consultations and purchases. This is also one of the strategies and visions the company has pursued since its inception.
On-site consultation and knowledge provision for buyers also helps in initial screening, patient classification, saving time and costs, enabling timely detection, and increasing cure rates. This helps differentiate FPT Long Chau from its competitors, in addition to competitive pricing. Ms. Nguyen Bach Diep affirmed that the strategy of providing self-consultation, information, and genuine products to the public will always be the main goal of the business in the future.
Looking back at the period affected by the pandemic, while many businesses faced difficulties, FPT Long Chau maintained sustainable operations and even recorded growth. Specifically, in the first six months of 2021, the pharmacy system's revenue reached VND 1,336 billion, an increase of 180% compared to the same period last year. On average, each store achieved revenue of VND 27 million per day.
By 2022, the chain had reached 1,000 pharmacies with 5 million monthly customers. The online platform also recorded over 2.5 million purchases per month. The FPT Long Chau Pharmacy app attracted 2 million users in just one year after its launch.
After four years of operation, this pharmaceutical retail chain has expanded its reach to all 63 provinces and cities nationwide. The company aims to reach 2,000 stores by 2024. This is considered a crucial piece of the puzzle, contributing to the company's grand ambitions. Simultaneously, consolidating its position as a leading supplier of medicines, vaccinations, and patient support in Vietnam is also a key objective for the company in the near future.
To date, the entire system has recorded tens of millions of customers with a repeat purchase rate of up to 70%. These are all people who consider the "green pharmacy" a familiar destination whenever they have health problems requiring immediate solutions.
Now, in addition to providing genuine medicines at the most affordable prices, FPT Long Chau is also a reputable vaccination center with major global brands and partners. This is also one of the cautious steps on the path to realizing the mission of "prevention is better than cure" that the unit set out for 2023.
A handshake that "lays the foundation" for the health ecosystem.
On its journey to improve quality and deliver greater value to the community, FPT Long Chau cannot do without the presence of its important partners. Previously, to bring genuine products at optimal prices to consumers, the company needed to cooperate with major players in the pharmaceutical industry. Now, to further enhance healthcare quality and provide access to advanced treatment technologies for Vietnamese people, two large corporations have decided to enter into a strategic partnership.
IHH Healthcare Singapore is one of Singapore's leading healthcare groups with a global network of hospitals and services. The long-standing partnership between IHH and FPT Group forms a solid foundation for collaboration between the two companies, aiming to bring significant value to patients and people across Vietnam.
Before officially collaborating, the Chairman of IHH Healthcare visited FPT Long Chau stores. The operating model and consulting and support services provided by the company demonstrated the high level of Vietnamese people's concern for health. Furthermore, the shared vision and direction of both parties showed similarities, opening up potential opportunities for collaboration in the healthcare sector, which has been rapidly developing in Vietnam in recent years.
For the company, this marks a turning point for the "giant" in the pharmaceutical retail industry as it decides to aim for the goal of creating a healthcare ecosystem, with the core foundation remaining the familiar chain of green pharmacies.
"The advantage of owning more than 80 major hospitals worldwide , along with a team of renowned, highly specialized leading doctors in Asia, will greatly benefit FPT Long Chau in improving the quality of medical treatment in Vietnam, especially for cancer. This is also a strength of Parkway Hospital, one of the members of this partner group," Ms. Nguyen Bach Diep stated.
Furthermore, having support from leading experts in cancer treatment also makes it easier for the unit to organize online or in-person consultations for patients and the public in Vietnam. In the future, the unit expects this strategic partnership to help the domestic cancer community achieve more effective and less stressful treatment.
Working together for a greater aspiration to serve the community.
Representing IHH Healthcare Singapore in Vietnam to sign this cooperation agreement with FPT Long Chau is Mr. Peter Chow, the group's Acting CEO. The leader stated that this collaboration is an important stepping stone, preparing for sustainable development, long-term "rooting," and further expansion of IHH in Vietnam.
IHH Healthcare's advantage in terms of nationwide pharmacy chains and pharmacist networks provided by its Vietnamese partners gives them readily available "contact points," enabling them to connect directly with patients for consultation, diagnosis, and even treatment in Vietnam.
On the other hand, FPT Long Chau's backing from the FPT Group is a huge advantage, greatly assisting its journey to "penetrate" the healthcare market in Vietnam. Its expertise in information technology, software, and data will be effective tools for connecting international doctors with patients in the country.
Peter Chow noted that Vietnam has a young population and one of the fastest-growing economies in Southeast Asia. This advantage indicates significant potential for business development, especially in the healthcare sector, in the coming years.
"The Vietnamese people and government are very actively cooperating with foreign partners to improve the domestic healthcare system. This is an opportunity for us to provide high-value, high-quality, and reliable healthcare services to them. This is also one of the key elements of this collaboration with FPT Long Chau," shared the leader of IHH Healthcare Singapore.
With these directions and visions, Ms. Nguyen Bach Diep stated that the two businesses will soon have more in-depth discussions on areas of cooperation. This will begin with a series of workshops, consultations, and healthcare services for patients provided by leading experts and doctors from IHH Healthcare Singapore.
Mr. Nguyen Van Khoa - General Director of FPT, giving a speech at the ceremony. Photo: Quynh Tran
FPT Long Châu will be responsible for supporting the organization and dissemination of information about useful programs to help Vietnamese people understand common diseases, especially cancer, correctly and comprehensively. At the same time, the unit will leverage its technological platform to build a system of verified and guaranteed online data and knowledge from IHH doctors, providing it to the public on online platforms and directly at each pharmacy.
"We hope that partnerships with quality partners like IHH Healthcare will help enrich the healthcare journey for Vietnamese people, improve service quality, increase connectivity, and open up opportunities for the community to access modern, internationally standardized treatment technologies. This is both an expectation and a mission we are determined to pursue in the short and long term," said Ms. Nguyen Bach Diep.
Thy An
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