TORONTO , Aug. 5, 2021 /CNW/ - CareRx Corporation (" CareRx " or the " Company ") (TSX:CRRX.TO), Canada's 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 " MPGL LTC Pharmacy Division ") of Medical Pharmacies Group Limited (the " Acquisition "). The issuance of the no action letter, which provides that the Competition Bureau does not intend to challenge the Acquisition under the Competition Act , satisfies one of the closing conditions of the Acquisition.
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 Ontario , Alberta and British Columbia . Upon closing, CareRx expects to service over 92,000 residents through a significantly strengthened national fulfillment network.
The Acquisition remains subject to the satisfaction of a number of customary closing conditions. CareRx currently expects to close the Acquisition by mid-September.
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