TORONTO, Oct. 5, 2016 /CNW/ - (TSXV: QHR) QHR
Corporation ("QHR") today announced that at a special meeting of
shareholders held earlier today (the "Meeting"), QHR shareholders
voted in favour of the proposed transaction pursuant to which
Loblaw Companies Limited ("Loblaw"), through its wholly-owned
subsidiary, Shoppers Drug Mart Inc., will acquire all of the issued
and outstanding common shares of QHR by way of a plan of
arrangement under section 192 of the Canada Business
Corporations Act (the "Arrangement"). The Arrangement was
approved by 92.64% of the votes cast by the QHR shareholders
eligible to vote at the Meeting.
Completion of the Arrangement remains conditional on approval by
the Supreme Court of British
Columbia and certain other closing conditions customary in
transactions of this nature. Subject to obtaining such court
approval, and the satisfaction or waiver of all other conditions
precedent to the Arrangement, it is anticipated that the
Arrangement will be completed in October
2016.
About QHR: QHR is a leader in healthcare technology,
empowering providers and connecting patients. With a 12-year
track record offering what is now the single leading electronic
medical records platform in Canada, QHR has a suite of complementary
offerings that empower health professionals. The company's
technologies and services enable secure medical records management
for clinical environments, empowering health providers with tools
for virtual care, including secure video and messaging, as well as
tools for clinic management including scheduling, billing, and
patient management. Health providers choose QHR to drive
efficiencies within their practice and improve the quality of care
delivered to patients.
Forward-Looking Statements
This news release contains
forward-looking statements about the proposed acquisition by Loblaw
of all of the outstanding common shares of QHR. Forward-looking
statements are typically identified by words such as "expect",
"anticipate", "believe", "foresee", "could", "estimate", "goal",
"intend", "plan", "seek", "strive", "will", "may" and "should" and
similar expressions.
This news release contains forward-looking statements concerning
the expected completion date of the Arrangement. There can be no
assurance that the Arrangement will occur or that the anticipated
strategic benefits will be realized. The Arrangement is subject to
court approval and the fulfillment of certain conditions, and there
can be no assurance that any such approvals will be obtained and/or
any such conditions will be met. The Arrangement could be modified,
restricted or terminated.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect QHR's expectations only
as of the date of this news release. QHR disclaims any obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise except as
required by law.
SOURCE QHR Corporation