Origin Merchant Partners is pleased to announce that CareRx Corporation (“CareRx”) has acquired Rexall Pharmacy Group’s long-term care pharmacy business in Ontario and Northern Alberta. CareRx adds approximately 4,000 senior care residents to its network through this acquisition, for a total of approximately 56,000 residents in over 950 seniors and other congregate care communities. Origin Merchant Partners acted as the financial advisor to CareRx on this transaction.
CareRx (TSX:CRRX) is one of Canada’s leading and most trusted providers of comprehensive Specialty Pharmacy services and solutions to seniors, operating a large national network of pharmacy fulfilment centres that deliver high-volume solutions for the cost-effective supply of chronic medication and other specialty clinical pharmacy services. With services that address the growing demand within the Canadian healthcare system, CareRx’s unparalleled national care delivery platform provides significant potential for future expansion and growth.
Rexall Pharmacy Group is a chain of retail pharmacies in Canada that operates Rexall and Rexall Pharma Plus in Central and Western Canada. Rexall is owned by McKesson Canada Corporation, which is a subsidiary of McKesson Corporation, a U.S.-based public company.