| Navarro Discount Pharmacies, Inc. |  | In 1940 José Navarro, Sr. founded Navarro Discount Pharmacies in Havana, Cuba. The first store was located on Monte Street and had a large client base including the employees of the Power Company. Later a second store opened and together the two pharmacies were considered among the best on the Island, with great selection and low prices.
Following radical political change in Cuba, in 1961 the new government confiscated the Navarro stores along with many other private companies, forcing the family to flee to the United States. Upon arriving in Miami, José Navarro, Sr. cashed an insurance policy and used the $4000 proceeds to open a pharmacy on S.W. 8th Street and 13th Avenue, in what would become the heart of Miami’s Little Havana sector. Navarro Discount Pharmacies continued to expand, eventually growing to 28 stores in Miami-Dade County. Navarro holds a 17% market share in South Florida with annual sales in excess of $320 million, making the company the most profitable performer on a sales-per-square foot basis than any other drug chain in recent years. Further expansion plans are firmly in place with new stores projected to open each year. In order to fuel expansion, in 2007 Navarro Discount Pharmacies partnered with MBF Healthcare Partners, a private equity firm headed by Mike Fernandez, who commands over 30 years of experience in the healthcare industry. This partnership has positioned Navarro to expand its presence in the market and achieve its vision of becoming the first choice pharmacy and discount drug chain store for families in each community we serve. | | Visit Website | | Office Address | 9400 NW 104 St.,
Medley, FL, 33178-1333 USA | | Phone | (305) 633-3000 | | Executives | Miguel B. (Mike) Fernandez, Chairman | | Lee D. Armbuster, CEO |
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