Pharmaceutical distribution company RA Williams, with the appointment of John Bailey as its next board chairman, is optimistic about the next decade of growth as it goes after a larger share of the local market.

Bailey, who succeeded the late business mogul R Danny Williams, assumed chairmanship in October, a month following the passing of the life insurance sector giant who previously served in the capacity during the last eight years.

The new chairman armed with over three decades of diverse business and leadership experience currently sits on a number of boards including One Great Studio, One on One Educational Services and Dolphin Cove. As an entrepreneur, he also has ownership stake in manufacturing companies Virginia Dare Jamaica Limited and Culligan Jamaica (WET Jamaica Limited) — a supplier of water treatment equipment.

Bailey, in an interview with the Jamaica Observer on Monday, said that he is honoured and thrilled to have worked alongside the late visionary since 2015 when they both joined the board, but is even more humbled to continue the rich legacy.

“My aim is to continue the legacy he has started as I also look to make my own mark on taking the company into its next phase of growth. The company has been on a growth trajectory that is impressive so my plan is to work with the entire team in continuing this. With the assistance of the CEO Audley Reid and COO Jewel Reid, the board will ensure that the necessary human and financial resources are in place to further grow the organisation,” Bailey said to the Business Observer.

“We’re planning a strategic board retreat in January where we will discuss and later be able to unfold more specific details on how we will unlock this growth in the coming years,” he stated.

The pharmaceutical distribution company, in securing over a $1 billion in sales in 2022, is now on the hunt for even greater out-turns from its business. With plans to also raise fresh capital from the launch of an upcoming initial public offering (IPO), an upbeat Bailey described the outlook as being very positive.

“We want to continue in growing sales for our business as we deliver quality service and further build out new product lines. To have reached the milestone of a $1 billion in sales was quite an achievement for our team and one for which we are happy. However, as we look to continue this we are targeting growth of 15-20 per cent or more in the coming year,” the recently installed chairman said, further noting that while the plans for regional expansion were not imminent, they also remain among some of the key objectives timed for execution in the near future.

“The pharmaceutical distribution landscape is dynamic and the needs of our customers, people and other stakeholders are rapidly changing. RA Williams is addressing these changes in a smart, innovative and fully thought out manner which will positively impact all our stakeholders for years to come,” he added.

RA Williams, now in existence for just little over a decade, is a family owned business run by a team of certified pharmacists. Moving from one drug at the start of operations, the company founded by Evelyn Williams has since that time significantly grown its footprint to add a number of new lines, products and team members as it beefs up business and expand its distribution network.

Following heavy investments in the build out of its new flagship building, located in close proximity to its current offices along Brunswick Avenue in Spanish Town, St Catherine, Bailey outlined the new space as vital to the plans the company has set out in its quest for future growth.

“We look to move into our new home in the short order, the facility comprises a distribution centre and offices situated at the New Brunswick Village in Spanish Town. The state-of-the-art facility, which also comprises over 20,000 square feet of spacing is powered by solar, is to serve us well in delivering our plans for growth. In the next two-three months, we should be fully moved in and settled and ready to embark on the next phase of our business,” the chairman said, even as he contends the need for more space amid a rise in the demand for products the company distributes.

“What we have done in building out this space is to also make allowance for some amount of growth, we’re already seeing where this may be challenging for us over the short term, which may result for us in the near future having to take additional storage and warehousing. For right now though, this current location will satisfy us at least for the next year or two as we position to efficiently manage our business and the growth of it,” he stated.