In a significant move within Jamaica's retail pharmacy sector, Fontana has announced the acquisition of the Monarch Pharmacy chain.
The announcement, made in a media release on Thursday, confirmed that Fontana had signed an agreement to acquire Monarch from Gerk Limited.
While the due diligence process is set to begin shortly, Fontana is optimistic about the potential expansion of its network.
Monarch Pharmacy operates in four key locations—three in Kingston and one in Portmore.
Fontana CEO Anne Chang expressed her excitement about the acquisition, describing it as a vital step in Fontana's broader strategy to grow its brand and continue delivering top-tier healthcare products and services.
Monarch Pharmacy's Bruce Loshusan shared that after 35 years of running the business, the Loshusan family had decided to pivot their focus towards retail food and property development, deciding to streamline their operations.
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