Pharmacorp Rx closes acquisition of three pharmacies

Executive Summary

• Pharmacorp Rx Inc. completed the acquisition of three PharmaChoice Canada‑branded community pharmacies (two in Western Canada, one in Eastern Canada).
• Total consideration was $8.7 million: $3.4 million for the two Western locations (75% cash, 25% common shares) and $5.3 million for the Eastern location (cash).
• The transactions were funded without any finders’ fees and support Pharmacorp’s growth strategy and national footprint expansion.

Key Details

• Western Canada acquisitions – Two PharmaChoice bannered pharmacies closed; aggregate purchase price $3.4 M, subject to customary adjustments.
• Funding: 75% cash on hand, 25% issued common shares of Pharmacorp.
• Share valuation based on the VWAP of PCRX on TSX‑V over the 10‑trading‑day period ending three business days before closing.
• Eastern Canada acquisition – One PharmaChoice bannered pharmacy closed; purchase price $5.3 M, subject to customary adjustments.
• Funding: Entirely cash on hand and available credit facility capacity.
• No finders’ fees were paid in connection with any of the three acquisitions.
• Post‑closing, Pharmacorp operates a total of seven PharmaChoice Canada bannered pharmacies and will continue acquiring additional locations under its partnership agreement.

Notable Quotes

“These transactions reflect the continued momentum of our disciplined growth strategy and the strength of our strategic alliance with PharmaChoice Canada,” said Alan Simpson, executive chair of Pharmacorp.
“With the addition of these three strong community pharmacies… we are expanding our national footprint, preserving independent legacies and delivering continuity of care for patients.”