NW Tech Capital is increasing its stake in the Zhuhai Jialun Guangcai Chain Drugstore Company by targeting the additional acquisition of proprietary enterprise software currently in use by over 2,000 pharmacies in China.
The acquisition was for majority interest in the 400 ZJG Drugstores based in Guangdong Province. The 400 ZJG Drugstores had revenues over CNY51 million in 2007, but neither company has yet provided details on how much money was exchanged in the transaction.
Jialun Guangcai Software Company specializes in developing the information technology in the medicine industry. After seven years of research and development, the company has developed Guangcai Software to establish the logistic and management platform for the drugstores, wholesalers, manufacturers and administration. The company is a leader in China and the software is widely used by over 2000 chain drugstores in Guangdong Province.
The enterprise software was developed by the founders of ZJG Drugstores to provide a platform for vendor relationships; accounts payable; invoice management and sales; inventory; procurement logistics; and strategic business growth. Today, this enterprise software gives the ZJG Drugstores a valuable competitive differentiation and an e-commerce platform for future growth in China and around the world where the market for Chinese herbal medicines is becoming widely accepted following clinical studies by respected medical scientists including teams from the prestigious U.S. National Institutes of Health and the World Health Organization.