McKesson Canada makes bid to acquire Uniprix

ST-LAURENT, Quebec — McKesson Canada and Uniprix announced Wednesday that, pending shareholder approval and satisfaction of closing conditions, including approval from the Competition Bureau of Canada, McKesson Canada proposes to acquire all outstanding shares of Uniprix.

"Today's announcement is very exciting for both McKesson Canada and Uniprix. Our two companies are coming together to help build the future of Uniprix's independent pharmacists," stated Paula Keays, president McKesson Canada. "The acquisition will allow independent pharmacies to remain competitive in an increasingly changing industry. For McKesson Canada, this is a strategic investment that enhances our commitment to Quebec."



"Our success is a shared success, as today's announcement secures a bright future for Uniprix owners who will benefit from McKesson Canada's best-in-class supply chain network, designed to ensure patient safety, reduce costs, increase operational efficiency and protect the autonomy of independent pharmacies owners," added Philippe Duval, president and CEO, Uniprix.

The Uniprix generates annual sales in excess of $1.6 billion, according to the company. And its banners – Uniprix, Uniprix Santé and Uniprix Clinique – extend across 375 pharmacies located in all four corners of the province.

This makes it the second largest retail pharmacy chain in Quebec, not to mention the largest group of independent pharmacists in the province.

McKesson Canada is building a significant network of Canadian independents. The wholesaler in December closed its deal to acquire Rexall Health. As part of that transaction, McKesson acquired approximately 470 retail pharmacies, and agreed to divest stores in 26 local markets that the Competition Bureau of Canada identified during its review of the transaction.

That is all accretive to a network of more than 2,000 independents across five owned and operated banners, including Guardian, I.D.A., The Medicine Shoppe, RemedyRx and Proxim.



The acquisition is a natural step for two companies with deep roots in Quebec, which have a long history of working together to deliver care to patients across the province. As part of the acquisition, the individual pharmacies will remain independently owned.



The information circular will be sent to shareholders mid-April 2017, with a shareholder vote scheduled for May 16, 2017.