Shoppers Drug Mart Announces Strategic Acquisition Of
Calea Ltd.’s Healthaccess Division And Call Centre Business
July 2, 2008 – Toronto, Ontario –Shoppers Drug Mart
Corporation (TSX: SC) announced today that it has
acquired the HealthAccess division of Calea Ltd. Based
in Mississauga, Ontario, Calea HealthAccess is a provider
of specialty drug distribution, pharmacy and patient
support services.
Under the terms of the acquisition, Shoppers Drug
Mart will acquire Calea’s specialty pharmacy business
including distribution and dispensing, therapy management,
reimbursement consulting and other manufacturer services,
as well as Calea’s call centre business including
patient and drug manufacturer support and adherence
monitoring. The acquired businesses will operate as
Shoppers Drug Mart Specialty Health Network Inc. providing
comprehensive patient support services for speciality
pharmaceutical needs.
“This strategic acquisition provides Shoppers Drug
Mart with a new platform to expand into special pharmacy
services, enhance our ability to deliver superior
patient support and, ultimately, harness the growth
potential of specialty pharmacy, one of the fastest
growing segments of the pharmaceutical marketplace,”
said Jürgen Schreiber, President & Chief Executive
Officer, Shoppers Drug Mart. “Calea HealthAccess and
its highly respected management team have demonstrated
leadership in the provision of speciality pharmaceuticals
and patient services and their talents and resources
will benefit Shoppers Drug Mart’s Associate-owners
in their efforts to assist patients with their total
health management.”
About Calea Ltd.
Calea Ltd. is the leading Canadian provider of patient-focused
home infusion and medical supply services and products.
Calea has been serving the healthcare needs of tens
of thousands of Canadians since 1984. Calea is based
in Mississauga, Ontario and operates nationally with
facilities in Montreal, Calgary, and Vancouver. Calea
is a subsidiary of Fresenius Kabi, the leader in infusion
therapy and clinical nutrition in Europe and in its
most important countries of Latin America and Asia
Pacific. Fresenius Kabi AG is a 100 % subsidiary of
the health care group Fresenius SE.
About Shoppers Drug Mart Corporation
Shoppers Drug Mart Corporation is one of the most
recognized and trusted names in Canadian retailing.
The Company is the licensor of full-service retail
drug stores operating under the name Shoppers Drug
Mart (Pharmaprix in Québec). With more than 1,095
Shoppers Drug Mart and Pharmaprix stores operating
in prime locations in each province and two territories,
the Company is one of the most convenient retailers
in Canada. The Company also owns and operates 65 Shoppers
Home Health Care stores, making it the largest Canadian
retailer of home health care products and services.
In addition to its retail store network, the Company
owns MediSystem Technologies Inc., a provider of pharmaceutical
products and services to long-term care facilities
in Ontario and Alberta.
Forward-looking Information and Statements
This news release contains forward-looking information
and statements, which constitute “forward-looking
information” (under Canadian securities law), and
which may be material, regarding, among other things,
the Company’s beliefs, plans, objectives, estimates,
intentions and expectations, including as they relate
to its operating and financial results, capital expenditures,
dividend policy and the ability to execute on its
operating, investing and financing strategies. The
forward-looking information and statements contained
herein are based on certain assumptions by management,
certain of which are set out in this news release.
Inherent in the forward-looking information and statements
are known and unknown risks, uncertainties and other
factors beyond the Company’s ability to control or
predict. Actual results or developments may differ
materially from those contemplated by the forward-looking
information and statements. The material risk factors
that could cause actual results to differ materially
from the forward-looking information and statements
contained herein include, without limitation: the
risk of adverse changes to laws and regulations relating
to prescription drugs and their sale, including pharmacy
reimbursement and the availability of manufacturer
allowances, or changes to such laws and regulations
that increase compliance costs; the risk of adverse
changes to existing pharmacy reimbursement programs
and the availability of manufacturer allowance funding;
the risk of increased competition from other retailers;
the risk of exposure to fluctuations in interest rates;
the risk of material adverse changes in foreign currency
exchange rates; the risk of an inability to attract
and retain pharmacists; the risk of changes to the
relationships of the Company with third-party service
providers; the risk that the Company will not be able
to lease or obtain suitable store locations on economically
favourable terms; the risk that new or changes to
current federal and provincial laws, rules and regulations,
including environmental laws, rules and regulations,
may adversely impact the Company’s business and operations;
the risk that changes in tax law, or changes in the
way tax law is expected to be interpreted, may adversely
impact the Company’s business and operations; the
risk that new or changes to existing accounting pronouncements
may adversely impact the Company; and the risk of
damage to the reputation of brands promoted by the
Company, or to the reputation of any supplier or manufacturer
of these brands.
This is not an exhaustive list of the factors that
may affect any of the Company’s forward-looking information
and statements. Investors and others should carefully
consider these and other risk factors and not place
undue reliance on forward-looking information and
statements. Further information regarding these and
other risk factors is included in the Company’s public
filings with provincial securities regulatory authorities
including, without limitation, the section entitled
“Risks and Risk Management” in the Company’s Management’s
Discussion and Analysis for the 52 week period ended
December 29, 2007 and in the section entitled “Risk
Factors” in the Company’s Annual Information Form
for the same period. The forward-looking information
and statements contained in this news release represent
the Company’s views only as of the date of this release.
Forward-looking information and statements contained
in this news release about prospective results of
operations, financial position or cash flows that
are based upon assumptions about future economic conditions
and courses of action are presented for the purpose
of assisting the Company’s shareholders in understanding
management’s current views regarding those future
outcomes, and may not be appropriate for other purposes.
While the Company anticipates that subsequent events
and developments may cause the Company’s views to
change, the Company does not undertake to update any
forward-looking information and statements, except
to the extent required by applicable securities laws.
Additional information about the Company, including
the Annual Information Form, can be found at www.sedar.com.
For more information, please contact:
Media Contact:
Tammy Smitham
Director, Communications & Corporate Affairs
(416) 490-2892, or
corporateaffairs@shoppersdrugmart.ca
(416) 493-1220, ext. 5500
Investor Relations:
(416) 493-1220, ext. # 5678
investorrelations@shoppersdrugmart.ca
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