How many rexall pharmacies in ontario

Although Rexall is closing some locations, it will likely serve the communities using other stores nearby or through online channels. Most notably, the deal involved Drug Trading Co. At the time, Katz Group chairman Daryl Katz said the deal allowed him to sell off non-core assets in order to focus on corporate-owned Rexall and Pharma Plus stores.

Katz was willing to sell. It used to be known as Medis Health and Pharmaceutical Services and focused on wholesale drugs and distribution. McKesson bought the firm in and changed the name to that of its U. Follow Tim Kiladze on Twitter: timkiladze Opens in a new window. Report an error. Schreiber will continue to be CEO of Rexall after the takeover, the companies said. Schreiber has a strong background in boosting sales at Shoppers and before that at A. Watson Group, a European chain of health and beauty stores.

At Shoppers, he shored up business in high-margin beauty and cosmetics merchandise, which helped offset lower margins of other goods such as toothpaste as well as declining margins in generic drugs. Over the past few years, Rexall has been working at transforming itself into a more distinct and stronger chain as it fought off Shoppers as well as new provincial generic prescription rules that result in pharmacies losing billions of dollars of government funding.

It is marked by a move of primary care into pharmacy and increasingly complex patient demand. The acquisition, which will be funded by a mix of cash and debt, is expected to close late in , the companies said. McKesson expects the acquisition to be "modestly accretive to adjusted earnings per diluted share" for fiscal It said profit attributable to Rexall Health will be partly offset by an anticipated charge related to the reversal of a step-up to fair value of acquired inventory at the date of the acquisition.

McKesson said it anticipates the takeover will "drive meaningful accretion, on a constant currency basis, to fiscal adjusted earnings per diluted share. Report an error. Editorial code of conduct. Skip to main content. Marina Strauss Retailing Reporter. In , just one month after Ontario pharmacists got the green light to administer immunizations, Rexall became the first chain to offer them at all its stores.

In the first year, it administered 80 per cent of pharmacies' flu shots with just 8 per cent of the stores — 10 times its market share. Results are exceeding expectations, he said.

Stores were redesigned to become brighter and airier, with Be Better vitamins that are colour-free and gluten-free. Stores that got the remodelling enjoyed a 7 per cent lift in sales at outlets open a year or more, Joe Jackman, a former consultant to Rexall, said last year.

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