Business
Loblaw to Acquire Lifemark Health Group to Expand Shoppers Drug Mart's Healthcare Services
Loblaw to Acquire Lifemark Health Group to Expand Shoppers Drug Mart's Healthcare Service...
About this update from Loblaw Companies Limited
[{"type":"text","content":"\n \n \n \n Loblaw to Acquire Lifemark Health Group to Expand Shoppers Drug Mart's Healthcare Services\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 BRAMPTON, ON\n \n ,\n \n March 14, 2022\n \n /CNW/ - Loblaw Companies Limited (TSX: L) (\"Loblaw\") today announced that its wholly owned subsidiary Shoppers Drug Mart (\"Shoppers\") has agreed to acquire Lifemark Health Group (\"Lifemark\"), a portfolio company of Audax Private Equity, for aggregate cash consideration of\n \n $845 million\n \n . Lifemark is the leading provider of outpatient physiotherapy, massage therapy, occupational therapy, chiropractic, mental health, and other ancillary rehabilitation services through its more than 300 clinics across\n \n Canada\n \n .\n \n \n \n \n \n \n \n \n \n Loblaw's purpose is to help Canadians live life well. The acquisition of Lifemark adds to its growing role as a healthcare service provider, with a network of health and wellness solutions, accessible in-person and digitally.\n \n \n \"For the past 60 years, Shoppers Drug Mart has played an important role in the health and wellness of Canadians, providing convenient, seamless access to pharmacy and healthcare services in communities nationwide,\" said\n \n Jeff Leger\n \n , President, Shoppers Drug Mart. \"For Canadians who want to get well and stay well, pharmacy and physical therapy services go hand in hand. Shoppers and Lifemark together make the continuum of care easier for patients.\"\n \n \n Through the acquisition of Lifemark, Shoppers adds the leading provider in the\n \n $11-billion\n \n Canadian outpatient physiotherapy and rehabilitation market to its team of professionals working in pharmacies, medical clinics, and healthcare businesses, supported by the company's digital PC Health offering. Together they create a network of thousands of individual healthcare professionals, with distinct but complementary expertise, operating in neighbourhoods coast-to-coast.\n \n \n \"We are excited for this new chapter in Lifemark's success story,\" says\n \n Peter Stymiest\n ...