Centric Health Announces Long-Term Agreements with Guardian and IDA Pharmacies

Centric Health Enters into Business Development, Technology and Long-Term Supply Agreements with Guardian and IDA Pharmacies

TORONTO, Aug. 8, 2016 /CNW/ - Centric Health Corporation ("Centric Health") (TSX:CHH) today announced that it has entered into 10-year Business Development, Technology and Supply Agreements with Guardian and IDA Pharmacies. Under the Agreements, Centric Health, one of Canada's leading healthcare services company, will receive comprehensive distribution and pharmacy services from Guardian and IDA Pharmacies. Together, both companies have committed to explore partnerships that can result in the creation or extension of patient support initiatives that delivery better more efficient patient care by leveraging technology; a broad network of community based pharmacies; and, proven patient based interventions. Guardian and IDA Pharmacies has committed to identifying and investing in channels that drive efficiencies and create value in the areas of pharmacy automation, system communications, and distribution services.

"We are delighted to partner with Guardian and IDA Pharmacies, Canada's leading network of independent pharmacist dedicated to improving patient care through pharmacy services, and benefit from their leading expertise and assets including distribution solutions, automation, technology and medication management services." said David Cutler, President and Chief Executive Officer, Centric Health Corporation. "Our alignment and collective intellectual focus is in keeping with governments' "Patient First" objective to ensure greater safety and better patient outcomes."

About Guardian and IDA Pharmacies

Guardian and IDA Pharmacies are a group of over 1000 independently owned and operated by pharmacists who believe in investing in the best possible pharmacy care. They are all united in a shared commitment of being your local community pharmacy. At Guardian and IDA pharmacies, patients and customers have the best of both worlds, they are independent pharmacies that are also members of Drug Trading, Canada's oldest and largest independent pharmacy services provider.

The Guardian and IDA Pharmacy banner program was first established in 1964 to provide differentiated pharmacy services. Since then they have become one of the most trusted names in pharmacy care and patients have a tremendous loyalty to our pharmacies. There is pride of ownership at Guardian that is combined with an unwavering commitment to the profession and to patient care.

Across the Guardian network, each pharmacy offers unique areas of services and specialities ranging from compounding, to long-term care and home health care, to expertise in areas of diabetes management and much more.

About Centric Health

Centric Health's vision is to be Canada's most respected and recognized provider in the independent healthcare sectors in which it operates, world renowned for delivering the highest levels of quality care and outcomes, innovative solutions and value to patients, clients and stakeholders. To this end, Centric Health primarily focuses on two core healthcare businesses:

  • The Specialty Pharmacy division is a "Patient First" model composed of a growing national network of fulfilment centres that deliver high-volume solutions for the cost effective supply of chronic medication and other specialty clinical care services, serving more than 25,000 residents in over 300 seniors communities (long term care facilities, retirement homes and assisted living facilities) nationally. The Specialty Pharmacy division also provides pharmaceutical dispensing services for employees insured by corporate health plans.
  • The Surgical & Medical Centres division is Canada's largest independent surgical provider operating six facilities across four provinces. It serves a diversified customer base with private paid non-insured surgeries and diagnostics, government outsourcing of insured surgeries and diagnostics and other procedures funded by third-party payors (including Workers Compensation) and is the proud owner of Canada's first Centre of Excellence in Metabolic and Bariatric Surgery.

With national networks of facilities in each of its businesses, deep knowledge and experience of healthcare delivery and extensive, trusted relationships with payers, physicians, and government agencies, the Company is uniquely positioned to address current and future healthcare needs in growing markets as the Canadian healthcare industry goes through a major transformation over the medium to long term.

SOURCE Centric Health Corporation

For further information: David Cutler, Chief Executive Officer, Centric Health Corporation, 416-619-9401, david.cutler@centrichealth.ca; Lawrence Chamberlain, Investor Relations, NATIONAL Equicom, 416-848-1457, lchamberlain@national.ca

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