Wednesday, December 22, 2010

I'm a believer: drug-supply startup proves its mettle

From the Edmonton Journal:
Chalk up another one for Sine Chadi.

When I first interviewed the CEO and majority shareholder of Edmonton-based Imperial Equities in 2007, he had big dreams for a tiny drug-distribution firm his company had just acquired.

I listened politely to Chadi's upbeat talk, but in truth, I didn't take it too seriously. After all, entrepreneurs are born dreamers and most of their schemes go nowhere.

Besides, I figured, what could a smallish local real estate operator with a market cap of just $30 million and a clutch of second-tier industrial and commercial properties know about delivering drugs to pharmacies?

That's strictly a game for the big guys, I reasoned -- namely corporate giants like McKesson Corp., whose annual revenues ($100 billion-plus US) dwarf the very largest companies in Canada, let alone a minnow like Imperial.

Well, it turns out I was wrong to dismiss Chadi's effusive outpourings. When I checked in with him a year ago, his drug-delivery service had grown to nearly $13 million in annual sales, up from just $1.2 million in 2006. ...more

No comments: