| 04 Sep 2007 |
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Medicine Shoppe International, Inc. Expands Presence to Middle East
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New Master Franchise Agreement with Al Zahrawi Group Will Open Five Medicine Shoppe Arabia Stores in Dubai this Year
Dubai - Medicine Shoppe International, Inc. (MSI) is expanding its global presence into the Middle East this fall with five Medicine Shoppe pharmacies in Dubai, United Arab Emirates (UAE). The first two stores are scheduled to open in Dubai in September 2007, with the remaining three opening later this year.
"We are excited to continue MSI's global growth through our new master franchise agreement in the Middle East," said Bruce Burnett, vice president, international for MSI. "The Medicine Shoppe brand and retail pharmacy model have been very successful in India and other Asian markets, so the Middle East market is a natural next step for expansion. The UAE and the Gulf are experiencing economic growth, and we are confident that the Medicine Shoppe pharmacy concept, which focuses on providing personalized care and counseling, will perform well in this region."
MSI's expansion into the Middle East is possible through a new master franchise agreement with the Al Zahrawi Group in Dubai. The Al Zahrawi group will manage all Medicine Shoppe Arabia operations, including future growth in the region.
"Given the higher expectations and demands of the region's increasingly sophisticated consumers, Al Zahrawi Group's entry into the retail pharmacy sector is a timely one as we expand our healthcare portfolio," said Mehdi Al Hassani, managing director of Al Zahrawi Group. "We have singled out Medicine Shoppe pharmacy because its business model is aligned with our corporate values of total health focus and putting our customers first. In addition, the Medicine Shoppe brand is well-established with a robust operational model that allows us to confidently introduce the pharmacy chain in the region."
The expansion into the UAE marks the seventh country in which Medicine Shoppe pharmacies are operated worldwide. Medicine Shoppe pharmacies also are located in the United States, Canada, China, India, Indonesia and Japan.
"The international momentum MSI is experiencing is a testament to the success of and demand for the Medicine Shoppe pharmacy approach, which emphasizes a high level of individualized health care and quality one-on-one interaction with customers," said Burnett.
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About Medicine Shoppe International, Inc.
Medicine Shoppe International, Inc. www.medicineshoppe.com, a Cardinal Health Company, is one of the largest franchisors of independent community pharmacies in the U.S. In 2003, Medicine Shoppe International acquired Medicap Pharmacies Incorporated www.medicap.com, which franchises independent community pharmacies in the U.S. under the trade name Medicap Pharmacy®. Medicine Shoppe(R) and Medicap Pharmacy(R) locations are distinguished for their commitment to providing expert, personalized health care. In 2007, Medicine Shoppe® pharmacies were awarded top honors for "Highest Customer Satisfaction among Chain Drug Store Pharmacies" by J.D. Power and Associates. There are more than 900 domestic Medicine Shoppe pharmacies and Medicap Pharmacy locations and more than 400 Medicine Shoppe pharmacies in six other countries.
About Al Zahrawi Group
Headquartered in Dubai, UAE, Al Zahrawi Group of Companies is a leading regional corporation serving the healthcare industry. With offices throughout the GCC and Iraq, Al Zahrawi's interests vary within the healthcare spectrum; from supplying medical, analytical and laboratory equipment to owning and operating the region's first private cord blood banking facility.
Contact:
Amy Hartweger
Medicine Shoppe International, Inc.
(314) 872-5405
amy.hartweger@cardinal.com
Carrie Trammell
Weber Shandwick Worldwide
(314) 552-6752
ctrammell@webershandwick.com
Marc-Antoine Zoara
Medicine Shoppe Arabia
(9714) 360-4410
mzora@medicineshoppe.ae
Mohamed Tahboub
Iman Ahmed
BPG Public Relations
(9714) 294-3456
mohamed@batespangulf.com
Iman@batespangulf.com
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