‎Nahdi continues to close small pharmacies, to open 10 clinics by 2026: CEO

Saudi Arabia
  • Date: 20-Mar-2023
  • Source: Argaam
  • Sector:Retail
  • Country:Saudi Arabia
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‎Nahdi continues to close small pharmacies, to open 10 clinics by 2026: CEO

Yasser Joharji, CEO of Al-Nahdi Medical Co., said that the company is continuing with the implementation of a plan to close smaller pharmacies within residential neighborhoods and open large pharmacies that offer more services, solutions and products, adding that the target number will be according to available opportunities in 2023.

About 105 small-sized pharmacies were closed and 43 new large pharmacies opened during 2022. The related financial impact was positive, as the new sites generated higher profit, while maintaining the number of customers and increasing the size of the shopping basket and purchasing value, the CEO told Argaam.

He pointed out that the company aims to open 10 "Nahdi Care" clinics for healthcare by 2026, saying that the fourth clinic in Jeddah will be opened in the first quarter of this year. "During the year, we will expand outside the city of Jeddah to cover other cities in the Kingdom".

The CEO also indicated that sales of Nahdi product brands and direct import brands exceeded SAR 1 billion, which contributed to more than 13% of the company’s total revenues in 2022, adding “Our brands represent 50% of the total products, and we also have brands that we import directly and market for. They