COMPLETES THE ACQUISITION OF ELITIS PHARMA THE COMPANY BECOMES THE LARGEST PLACEMENT FIRM IN THE PHARMACY SECTOR IN QUEBEC
AlliancePharma Inc. has completed the acquisition of Elitis Pharma Inc., becoming the largest provider of replacement pharmacists in Quebec. With this strategic acquisition, AlliancePharma accesses the services of some 600 replacement pharmacists, and consolidates this service throughout Quebec, with a share of about 76% of the market.
The acquisition provides our management team with opportunities that will accelerate the growth objectives of the company while ensuring the level of client service excellence which had made it a success, and ultimately increasing shareholder value.
"We are very proud to have concluded a transaction which makes AlliancePharma a key player in the health services industry in Quebec. We believe that our development strategy generates value in a market that presents an attractive business potential in the short term", commented Marc Lemieux, Chairman of the Board of AlliancePharma Inc.
With industry wide demand for replacement pharmacists growing, AlliancePharma wants to leverage its privileged position in the market, while diversifying its activities into value added areas linked to the health sector. The Company intends to expand into the rest of the Canadian market over the next three years.