Fortis HealthWorld to invest Rs 800 cr in retail stores by 2012

New Delhi, Feb 6 (UNI) Fortis HealthWorld Ltd will foray into pharma retail chain by opening 1,000 stores by 2012 with an investment of Rs 800 crore.

The stores will be opened under two models -- company-owned and franchisee stores -- though the product franchisee has not yet determined.

''HealthWorld is a 'One Stop Shop' which will offer prescription and OTC drugs, health supplements, health foods, alternate medicine like Ayurveda and Homeopathy, home and personal care products, telemedicine and a pathology lab collection centre,'' Fortis HealthWorld Chief Executing Officer Ashish Kirpal Pandit told reporters here today.

The Fortis retain chain will start functioning from Delhi and NCR within the next sixty days and then gradually move across the country by covering 400 towns by 2012, Mr Pandit added.

'' The non-availability of pharma products under one roof and the difficulty in accessing such products made us to take such initiative. We expect to open 250 retail outlets by the end of this year and finally will touch the target of 1,000 stores by 2012,'' said Fortis HealthCare Ltd Managing Director Shivinder Mohan Singh.

Meanwhile, logo of the new retail venture was also unveiled.

UNI