Yes because you can specify a called by other action that should happen if the chasing character reaches the specified distance from the character being chased.
1. create a new called by other action somewhere. Maybe create it in the chaser characters actions. Add the actions you want to happen when the character reaches the current character.
2. create a chase character action & link the called by other action you created to it. The 'reach' field is the radius in pixels, if I remember correctly.