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CareRx Receives Clearance Under the Competition Act for Acquisition of Long-Term Care Pharmacy Division of Medical Pharmacies
CareRx Receives Clearance Under the Competition Act for Acquisition of Long-Term Care Pha...
About this update from Carerx Corporation
[{"type":"text","content":"\n \n \n \n CareRx Receives Clearance Under the Competition Act for Acquisition of Long-Term Care Pharmacy Division of Medical Pharmacies\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Aug. 5, 2021\n \n /CNW/ - CareRx Corporation (\"\n \n CareRx\n \n \" or the \"\n \n Company\n \n \") (TSX: CRRX),\n \n Canada's\n \n leading provider of pharmacy services to seniors living and other congregate care communities, announced today that the Competition Bureau has issued a \"no action letter\" in connection with CareRx's proposed acquisition of the Long-Term Care Pharmacy Division (the \"\n \n MPGL\n \n \n LTC Pharmacy Division\n \n \") of Medical Pharmacies Group Limited (the \"\n \n Acquisition\n \n \"). The issuance of the no action letter, which provides that the Competition Bureau does not intend to challenge the Acquisition under the\n \n Competition Act\n \n , satisfies one of the closing conditions of the Acquisition.\n \n \n The MPGL LTC Pharmacy Division is comprised of 18 fulfillment centres serving approximately 36,000 residents of long-term care, assisted living and other congregate care settings across\n \n Ontario\n \n ,\n \n Alberta\n \n and\n \n British Columbia\n \n . Upon closing, CareRx expects to service over 92,000 residents through a significantly strengthened national fulfillment network.\n \n \n The Acquisition remains subject to the satisfaction of a number of customary closing conditions. CareRx currently expects to close the Acquisition by mid-September.\n \n \n \n \n ABOUT CARERX\n \n \n \n \n CareRx is\n \n Canada's\n \n leading provider of pharmacy services to seniors communities. We serve over 56,000 residents in over 1,000 seniors and other congregate care communities (long-term care homes, retirement homes, assisted living facilities, and group homes). We are a national organization with a large network of pharmacy fulfillment centres strategically located across the country. This allows us to deliver medications in a timely and cost-effective manner and quickly respond to ro...