BRAMPTON, ON and KELOWNA, BC, Oct. 13,
2016 /CNW/ - Loblaw Companies Limited (TSX:L) ("Loblaw") and
QHR Corporation (TSXV:QHR) ("QHR") today announced that Loblaw,
through its wholly-owned subsidiary, Shoppers Drug Mart Inc.
("SDMI"), has completed its acquisition of all of the issued and
outstanding common shares of QHR for $3.10 in cash per share by way of a plan of
arrangement under section 192 of the Canada Business
Corporations Act (the "Arrangement"). As a result of the
Arrangement, QHR is now a wholly-owned subsidiary of SDMI.
With the completion of the Arrangement, QHR's common shares are
expected to cease trading and be de-listed from the TSX Venture
Exchange following the close of trading on October 13, 2016.
About Loblaw Companies Limited: With more than 2,400
independent and corporate-owned grocery stores and pharmacies,
Loblaw is a Canadian retail leader, dedicated to advancing the
health and wellness of Canadians. Its company purpose – Live
Life Well – is supported by its 5,000 healthcare professionals,
including pharmacists, opticians, dietitians, and nurses, offering
a range of services like prescriptions, med checks, flu shots,
minor-ailment diagnoses, and nutrition consultations. Each week, 17
million Canadians interact with Loblaw in stores or
online.
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.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect Loblaw's and QHR's
expectations only as of the date of this news release. Loblaw and
QHR disclaim 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 Loblaw Companies Limited