McKesson to acquire Uniprix, pending shareholder and Competition Bureau of Canada approval

McKesson to acquire Uniprix

McKesson Canada has agreed to acquire Uniprix Inc., pending shareholder approval and approval from the Competition Bureau of Canada. As part of the acquisition, the individual pharmacies will remain independently owned.

Financial terms were not disclosed. In December 2016, McKesson acquired Rexall Health from Katz Group for CDN $2.9 billion.

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

“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,” said Paula Keays, President of 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.”

“McKesson Canada has a 100-year history in Quebec and its Canadian head office is in Montreal. 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” said Philippe Duval, President and CEO, Uniprix.

Founded in 1977, Uniprix Inc. is one of the largest groups of independent pharmacists in Quebec. The company offers services to a network of more than 330 pharmacies across the province

photo credit: Uniprix

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.