M&A Deal Summary

CareRx Acquires Medical Pharmacies Group - Long-Term Care Pharmacy Division

On April 19, 2021, CareRx acquired life science company Medical Pharmacies Group - Long-Term Care Pharmacy Division from Medical Pharmacies for 70M USD

Acquisition Highlights
  • This is CareRx’s 1st transaction in the Life Science sector.
  • This is CareRx’s 2nd largest (disclosed) transaction.
  • This is CareRx’s 4th transaction in Canada.
  • This is CareRx’s 2nd transaction in Ontario.

M&A Deal Summary
Date 2021-04-19
Target Medical Pharmacies Group - Long-Term Care Pharmacy Division
Sector Life Science
Buyer(s) CareRx
Sellers(s) Medical Pharmacies
Deal Type Divestiture
Deal Value 70M USD

Target

Medical Pharmacies Group - Long-Term Care Pharmacy Division

Markham, Ontario, Canada
Medical Pharmacies Group's Long-Term Care Pharmacy Division is comprised of 18 fulfillment centers serving approximately 36,000 residents of long-term care, assisted living, and other congregate care settings across Ontario, Alberta, and British Columbia.

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Buyer(S) 1

Buyer

CareRx

Toronto, Ontario, Canada
Category Company
Founded 2001
Sector Life Science
Employees1,432
Revenue 371M CAD (2023)
DESCRIPTION

CareRx is a provider of pharmacy and other healthcare services to Canadian seniors. Centric Health is one of Canada’s major and most trusted providers of comprehensive Specialty Pharmacy services and solutions to seniors. Centric Health operates a large national network of pharmacy fulfillment centers that deliver high-volume solutions for the cost-effective supply of chronic medication and other specialty clinical pharmacy services, serving more than 31,000 residents in over 460 seniors communities (long-term care, retirement homes, and assisted living facilities) nationally. CareRx was founded in 2001 and is based in Toronto, Ontario.

DEAL STATS #
Overall 4 of 5
Sector (Life Science) 1 of 2
Type (Divestiture) 1 of 1
State (Ontario) 2 of 3
Country (Canada) 4 of 5
Year (2021) 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-27 Clearpoint Health Network

Toronto, Ontario, Canada

Clearpoint Health Network is a network of surgical centers. Clearpoint Health Network is based in Toronto, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-30 Hogan Pharmacy Partners

Cambridge, Ontario, Canada

Hogan Pharmacy Partners is a long-term care pharmacy serving approximately 725 residents in long-term care and retirement homes in Ontario.

Buy CA$2M

Seller(S) 1

SELLER

Medical Pharmacies

Markham, Ontario, Canada
Category Company
Founded 1957
Sector Life Science
DESCRIPTION

Medical Pharmacies is a provider of clinical research, innovative technologies, educational programs, and exceptional service. Medical Pharmacies specialty pharmacy services include the provision of compounded intravenous therapies and other specialized drug therapies such as biologics and biosimilars. Medical Pharmacies was founded in 1957 and is based in Markham, Ontario.

DEAL STATS #
Overall 1 of 1
Sector (Life Science) 1 of 1
Type (Divestiture) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-16 Desjardins Healthcare Group

Ottawa, Ontario, Canada

Desjardins Healthcare Group is a provider of specialty pharmacy services, medical supplies, and equipment in Ontario. DHG provides its products and services under the Pharmacie Desjardins Ltd. (PDL), Ontario Medical Supply (OMS), and Nova Medical trade names throughout Eastern Ontario.

Buy -
Mergr

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