CareRx is the largest and fastest growing provider of pharmacy services to seniors living in long-term care homes, retirement homes, and other group settings in Canada.
Utilizing its best-in-class institutional pharmacy capabilities, CareRx plays an integral role in supporting seniors homes by providing high-volume, cost-effective solutions for the supply of chronic medication, ensuring the highest level of safety and adherence for individuals with complex medication regimes.
With the number of seniors in long-term care and retirement homes in Canada expected to more than double over the next decade and a half1, CareRx is poised to capitalize on these favourable demographics.
1. Source: CMHC Seniors Housing Report Canada.
CareRx has a target to double the number of residents it serves by 2023 through a two-pronged growth strategy:
- Win new contracts with seniors homes based on its national distribution network and leading customer value proposition; and,
- Pursue accretive acquisitions through the rollup of a highly fragmented market.
CareRx has a proven ability to rapidly integrate acquisitions and realize significant synergies. Its unique scale and existing national footprint make it well positioned to service new beds quickly and profitably and create significant shareholder value.
CareRx is also committed to the continued innovation of its institutional pharmacy services through the adoption of leading technology to further capitalize on its growing scale and enhance its service offering in addition to pursuing adjacent strategic opportunities that leverage its core capabilities.
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- May 12, 2021CareRx Reports 47% Year-Over-Year Growth in Revenue and 100% Year-Over-Year Growth in Adjusted EBITDA for First Quarter of 2021
- April 29, 2021CareRx Corporation to Host First Quarter 2021 Financial Results Conference Call on Thursday, May 13, 2021 @ 8:30 a.m. ET
- April 26, 2021CareRx to Add 4,200 Beds through Partial Acquisition of the Long-Term Care Pharmacy Business of Rexall Pharmacy Group
- April 19, 2021CareRx Announces Agreement to Acquire Long-Term Care Pharmacy Division of Medical Pharmacies and Committed Subscription Receipt Financing of $55 Million
- April 15, 2021CareRx to Present at the 2021 Bloom Burton & Co. Healthcare Investor Conference Tuesday, April 20 at 4:00 P.M. ET
Please note that any opinions, estimates or forecasts regarding CareRx Corporation’s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of CareRx or its management. CareRx does not by its reference above or distribution imply any endorsement of or concurrence with such opinions, estimates or forecasts.
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