Pickering, Ont.-based Medical Pharmacies Group Ltd (MPGL) has agreed to acquire Desjardins Healthcare Group, a provider of specialty pharmacy services, medical supplies and equipment based in Ottawa. The financial terms of the deal, which is set to close on October 31, were not released. MPGL, a provider of pharmacy services to long-term care facilities and retirement homes, has been a portfolio company of Canadian mid-market buyout firm Callisto Capital since 2011. In 2012, MPGL purchased three B.C.-based pharmacies, Marks Pharmacy, Okanagan Resident Plus Pharmacy and Resident Plus Pharmacy in Surrey.
PRESS RELEASE
Medical Pharmacies Group Acquires Desjardins Healthcare Group to Expand Its Offerings and Enhance Value to Customers
Combination Will Create a Leading National Provider of Pharmacy Services and Healthcare Products Serving Residents in Long Term Care Facilities, Retirement Homes and the Community
PICKERING, ONTARIO–(Marketwired – Sept. 16, 2013) – Medical Pharmacies Group Limited (MPGL), Canada’s largest provider of pharmacy services to long-term care facilities and retirement homes, has entered into an agreement to acquire Ottawa-based Desjardins Healthcare Group (DHG), a leading provider of specialty pharmacy services, medical supplies and equipment in Ontario.
The transaction will bring together two companies with complementary product and service offerings to a similar customer base. It expands MPGL’s footprint in Eastern Ontario and adds an expansive range of new healthcare products and services, setting the stage for further growth throughout Canada. The combined company will have more than 1,000 employees, with operations in Ontario and British Columbia.
“This is a major step in achieving our vision to become a leading national provider of specialty pharmacy and healthcare products and services,” says Ed Jamieson, President and CEO, Medical Pharmacies Group. “We welcome Desjardins Healthcare Group and its employees to MPGL, and look forward to working together to maximize the opportunities made possible by joining forces.”
Customers of both companies will gain the benefits of having access to a single source for the provision of a comprehensive suite of pharmacy and healthcare products and services. To this point most of them have had to use multiple providers.
Through its operating companies Desjardins Pharmacy and Ontario Medical Supply, DHG brings to MPGL significant experience and presence in Home Infusion Therapy, Total Parenteral Nutrition, and Medical Products and Equipment services including Home Oxygen, Wound Care and Pressure Management, Mobility, Incontinence, and Home Healthcare products. Together, the two companies’ products and services will reach more than 45,000 seniors in long term care and retirement homes and thousands more receiving care through the Ontario Community Care Access Centres’ Home Care Program.
“Joining forces will enable us to offer the most comprehensive suite of pharmacy services and medical products available in Canada,” says Jean Desjardins, Managing Partner, Desjardins Healthcare Group. “We look forward to the opportunity to bring our experience and knowledge to the group’s many clients, which will result in innovative and cost effective healthcare solutions.”
MPGL and DHG have both been recognized by Canada’s Best Managed Companies awards for multiple years.
The acquisition, which is subject to approval by the Competition Bureau, is set to close on October 31, 2013. The owners of DHG will have an equity stake in Medical Pharmacies. The Desjardins’ medical supply and equipment business will operate under the name Ontario Medical Supplies Inc.
About Medical Pharmacies Group Limited
Medical Pharmacies (www.medicalpharmacies.com) is Canada’s leading pharmacy specializing in providing pharmacy services to long term care, retirement home and extended care facilities. From multiple locations in Ontario and B.C., Medical Pharmacies (MPGL) delivers a personalized pharmacy experience to over 40,000 residents, one person at a time. The company is a respected innovator of medication management systems that enhance medication accuracy, safety and cost efficiency. MPGL has been recognized annually since 2000 as one of Canada’s Best Managed Companies, and is a Platinum Member.
About the Desjardins Healthcare Group
The Desjardins Healthcare Group (DHG) is a leading Ottawa-based retailer and wholesaler of medical supply equipment and pharmaceuticals. DHG provides its products and services under the Pharmacie Desjardins Ltd. (PDL), Ontario Medical Supply (OMS) and Nova Medical trade names throughout Eastern Ontario. DHG has been recognized as one of Canada’s Best Managed Companies since 2008, and is a Gold Member. (www.oms.ca)
FOR FURTHER INFORMATION PLEASE CONTACT:
Media:
Hogarth Communications
Don Hogarth
416-565-8920
don@hogarthpr.com
Media and other inquiries:
Medical Pharmacies Group Limited
Ed Jamieson
President and CEO
1-866-689-3169
ejamieson@medicalpharmacies.com
Photo courtesy of Shutterstock.
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.