TORONTO, Oct. 3, 2022
/CNW/ - CareRx Corporation ("CareRx" or the "Company") (TSX:
CRRX), Canada's leading provider
of pharmacy services to seniors living and other congregate care
communities, today announced it has signed a multi-year contract to
provide pharmacy services to residents in multiple seniors living
facilities in Atlantic Canada,
initially serving up to 600 residents. CareRx is currently in the
process of establishing pharmacy operations in Atlantic Canada and expects to commence
servicing homes in the third quarter of 2023.
"Establishing a presence in Atlantic
Canada is another significant step in our growth journey and
will further strengthen our position as the national leader in
seniors pharmacy services," said David
Murphy, President and Chief Executive Officer of CareRx. "We
believe that our comprehensive and differentiated service model,
which has been so successful in other provinces, will allow us to
deliver higher quality and enhanced support to seniors housing
operators in Atlantic Canada,
becoming a foundation to further expand our presence and market
share in the region in the years ahead."
Mr Murphy added, "Geographic expansion remains a key strategic
priority for CareRx, and we are confident in our ability to further
expand our presence to other new geographies as we continue to
execute on our growth and leadership vision."
About CareRx Corporation
CareRx is Canada's leading
provider of pharmacy services to seniors living communities. We
serve over 97,000 residents in over 1,600 seniors and other
congregate care communities (long-term care homes, retirement
homes, assisted living facilities, and group homes). We are a
national organization with a large network of pharmacy fulfillment
centres strategically located across the country. This allows us to
deliver medications in a timely and cost-effective manner and
quickly respond to routine changes in medication management. We use
best-in-class technology that automates the preparation and
verification of multi-dose compliance packaging of medication,
providing the highest levels of safety and adherence for
individuals with complex medication regimes. We take an active role
in working with our home operator partners to promote resident
health, staff education, and medication system quality and
efficiency.
Forward-Looking
Statements
This press release contains statements that may constitute
"forward-looking statements" within the meaning of applicable
Canadian securities legislation. These forward-looking statements
include, among others, statements regarding the Company's business
strategy, plans and other expectations, beliefs, goals, objectives,
information and statements about possible future events.
Forward-looking statements generally can be identified by the use
of forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "anticipate" or similar expressions
suggesting future outcomes or events. Such forward-looking
statements reflect management's current beliefs and are based on
information currently available to management.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
contemplated by such statements. Factors that could cause such
differences include the Company's exposure to and reliance on
government regulation and funding, the Company's liquidity and
capital requirements, exposure to epidemic or pandemic outbreak,
the highly competitive nature of the Company's industry, reliance
on contracts with key customers and other risk factors described
from time to time in the reports and disclosure documents filed by
the Company with Canadian securities regulatory agencies and
commissions. These and other factors should be considered carefully
and readers should not place undue reliance on the Company's
forward-looking statements. As a result of the foregoing and other
factors, no assurance can be given as to any such future results,
levels of activity or achievements and neither the Company nor any
other person assumes responsibility for the accuracy and
completeness of these forward-looking statements. The factors
underlying current expectations are dynamic and subject to
change.
SOURCE CareRx Corporation