Malaysian drugstore chain Caring Pharmacy is reportedly on the market with owner 7-Eleven Malaysia Holdings said to be in talks with several potential Japanese investors.

According to Bloomberg, 7-Eleven Malaysia is working with an adviser on a potential divestment of Caring Pharmacy currently, which is estimated to be worth around US$400 million. 

Established in 1994 by five pharmacists, who were course-mates in the School of Pharmacy, Universiti Sains Malaysia (USM), Caring offers pharmaceuticals, healthcare and personal care products. As of 2019, the company had more than 120 stores across the country. 

The convenience-store operator took control of Caring Phamarcy in 2020 and delisted it from Bursa Malaysia. According to the company’s 2021 annual report, BCorp founder Tan Sri Vincent Tan is 7-Eleven Malaysia’s largest shareholder with 44.7 per cent of the stock. 

The report followed 7-Eleven Malaysia’s foray into the Indonesian pharmacy business through a joint venture between Caring Pharmacy and PI Era Prima Indonesia.