Myosotis pharmacies: gaining patients’ trust

Over the past years, pharmacists have moved from the traditional dispensing role to become more actively involved in patient care. Good, unbiased advice alongside a sense of friendship and familiarity stemming from knowing customers well, have become as important as the transfer of products itself.

The Myosotis Pharmacies chain started as a family business in 1992 with the same objective: to offer a more attentive, respectful and qualitative service to their patients. Owner Bogdan Chiriac believes part of the company’s success is due to the fact that they managed to remain independent. Not being directly affiliated to any producer or distributor of pharmaceuticals allowed them to maintain objectivity in their recommendations to customers, creating lasting relationships with them.

Today Myosotis is one of the most dynamically growing companies, counting approximately 200 employees and advising more than 200 000 patients per month in approximately 70 branches located mostly in the eastern part of Romania. The company’s strategy is to continuously extend their pharmacy network by opening additional selling points including in rural areas that represent a largely unexploited market.

In the light of Myosotis’ solid business track record and development potential, Raiffeisen Romania – an EIF financial intermediary under the Jeremie instrument – provided the business with additional working capital in the form of an EU-guaranteed loan at more favourable conditions. This was used among others to open new branches and hire additional employees.

“EIF’s support has allowed us to offer highly competitive banking products and to expand our portfolio with companies that are driving competitiveness and creating employment throughout the country”, says Ileana Cioana, Head of Corporate Credits Directorate at Raiffeisen Romania.

Company: Myosotis Pharmacies (RO)

Type of business:  Retail, pharmacy chain

Supporting bank:  Raiffeisen Romania

EIF guarantee: JEREMIE Romania

For further information about EIF intermediaries in Romania, please refer to: http://www.eif.org/what_we_do/where/ro