The Hyderabad-based MedPlus Health Services Private Limited, one of the major retail pharmacy chains in the country, is planning to increase its retail outlets to almost three fold from the current number of shops in the current financial year.

The company with its 343 retail outlets, close to the largest retail chain Apollo Pharmacy, will have a total of 400 outlets in the end of April 2008 and will increase the number to 1200 by March 2009, informed Madhukar Gangadi, chief executive officer (CEO), Medplus.

The company will focus on rolling out more retail outlets in four states, Rajasthan, Maharashtra, Gujarat and West Bengal as part of expansion. Event though the company has a strong presence in South India at present, the plans are to set to have a strong operational basis all over the country, he averred.

"With the increasing opportunities there is a lot of pressure in finding out new places for our operations. Even in a franchisee method, Medplus will build only fresh outlets as part of our policy," added Gangadi. However, he refused to comment on any financial details on the company at present.

Apart from its expansion plans through outlets, the company has also initiated setting up of integrated health centres (IHCs) comprising a family clinic and diagnostic lab along with pharmacy under one roof, from March 2008. The company has announced setting up IHCs in Hyderabad and extending the service to Bangalore and Pune within the end of April. The number of IHCs, a 'full-service pharmacy' retail project, is expected to reach 200 in total by the end of current financial year, according to the company officials.

In March, Medplus has also announced its plan to enter into capital market with initial public offering (IPO) by June 2009 to fund its expansion programmes. The company is currently carrying out expansion projects with the funds raised from three private equity firms. The company, in March 2007, has raised US $5.2 million from the Hyderabad based iLabs Venture Capital.