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Industry NewsLoblaw to acquire Lifemark Health Group to expand Shoppers Drug Mart’s healthcare...

Loblaw to acquire Lifemark Health Group to expand Shoppers Drug Mart’s healthcare services

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Loblaw Companies Limited has announced that its subsidiary Shoppers Drug Mart has agreed to acquire Lifemark Health Group, a portfolio company of Audax Private Equity, for aggregate cash consideration of $845 million. Lifemark is a provider of outpatient physiotherapy, massage therapy, occupational therapy, chiropractic, mental health, and other ancillary rehabilitation services through its more than 300 clinics across Canada.

“For the past 60 years, Shoppers Drug Mart has played an important role in the health and wellness of Canadians, providing convenient, seamless access to pharmacy and healthcare services in communities nationwide,” says Jeff Leger, president, Shoppers Drug Mart. “For Canadians who want to get well and stay well, pharmacy and physical therapy services go hand in hand. Shoppers and Lifemark together make the continuum of care easier for patients.”

Through the acquisition of Lifemark, Shoppers adds the provider to its team of professionals working in pharmacies, medical clinics, and healthcare businesses, supported by the company’s digital PC Health offering. Together they create a network of thousands of individual healthcare professionals, with distinct but complementary expertise, operating in neighbourhoods coast-to-coast.

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