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RXDM to buy 27 former Rexall pharmacies across Canada

Published 09 June 2017

The Competition Bureau has approved Rx Drug Mart as the buyer of 27 Rexall Pharmacy Group's retail pharmacies across Alberta, British Columbia, the Northwest Territories, Ontario and Saskatchewan in Canada.

In December 2016, the Bureau had determined that McKesson's acquisition of Rexall would have resulted in a likely substantial lessening or prevention of competition in the market for wholesale and retail sale of certain pharmacy products and services, including prescription and over-the-counter pharmaceuticals.

The concern was addressed through a consent agreement with the Bureau, whereby McKesson agreed to sell 27 Rexall's retail pharmacies in 26 communities across Canada.

Following a review, the Bureau concluded that RXDM has the managerial, operational and financial capacity to compete effectively in the 26 communities. RXDM is an independent operator of retail pharmacies across Canada. RXDM does not currently operate in any of the 26 communities.

Ownership of the 27 pharmacies will be transferred from McKesson to RXDM on a rolling basis between mid-June and August 31, 2017.

Source: Company Press Release