McKesson Canada announces acquisition of Proxim banner - Transaction helps strengthen independent-pharmacist business model

    MONTREAL, June 19 /CNW Telbec/ - McKesson Canada Corporation announced
today that it will acquire all outstanding shares from Groupe PharmEssor Inc.
(owner of the Proxim and ProxiMed brands), subject to customary closing
conditions. Indeed, the vast majority of the shareholders voted in favour of a
special motion passed yesterday during a Special Meeting of Groupe
PharmEssor's Shareholders. Under the confidential terms of the arrangement,
McKesson Canada will acquire the banners, while member-pharmacists will remain
owners of their pharmacies. The transaction will therefore have no impact on
the autonomy of pharmacists nor change their professional responsibilities.
    "McKesson Canada is enthusiastic about this transaction, which
strengthens a longstanding distribution relationship with Proxim for the
distribution of pharmaceutical products, over-the-counter medications, and
consumer products," says Domenic Pilla, President, McKesson Canada. "We
believe the acquisition will benefit Proxim's independent entrepreneur
pharmacist banner members through improved access to McKesson Canada's supply
chain, which will enhance the product and service offerings they provide their
    "This agreement will reinforce the independent-pharmacist business model
and will allow Proxim to strenghten its positioning, oriented towards the
well-being of its clientele" adds Michel Chartrand, President and Chief
Executive Officer, Proxim.
    The business partnership between McKesson Canada and Proxim dates back to
the 1980s, when McKesson Canada began providing distribution services for
Proxim banner pharmacies. Proxim manages close to 270 retail outlets in
Quebec. Both companies have a longstanding presence in Quebec and strong
commitments to their communities.
    Proxim, which was established in 1984, is well-known for its focus on
customer relationships and for support of health, charitable and sporting
events. McKesson Canada, founded more than 100 years ago in Montreal, also
places strong emphasis on outstanding client service along with support for
children's health and educational efforts, through the McKesson Foundation.

    About Proxim

    Proxim is a group of independent pharmacists that share a vision of
professional practice as a fundamental value. The group was formed with the
merger of the ESSAIM, SANTE SERVICES and OBONSOINS banners in September 2004.
Proxim offers a wide range of flexible services that are tailored to today's
changing market, thus helping member pharmacists achieve excellence within
their communities. Proxim is a network of close to 270 independently-owned
pharmacies located throughout Quebec, Ontario and the Atlantic provinces.

    About McKesson Canada

    Founded more than 100 years ago, McKesson Canada is the leading provider
of logistics as well as information products and services within the Canadian
health care marketplace. McKesson Canada carries more than 35,000 products, in
17 distribution centers, and provides logistics and distribution to more than
800 manufacturers - delivering their products to 6,300 retail pharmacies,
1,350 hospitals, long-term care centers, clinics and institutions throughout
Canada. Beyond pharmaceutical distribution, McKesson Canada has provided
automation services for 2,500 retail pharmacies; and is also active in
hospital automation solutions, dispensing more than 100 million doses each
year. The company also provides a full range of services to Canadian
manufacturers and healthcare providers, contributing to the quality and safety
of care for Canadian patients. McKesson Canada and is a wholly-owned
subsidiaries of McKesson Corporation of San Francisco.

For further information:

For further information: McKesson Canada: Line Chapdelaine, Director,
Corporate Communications, McKesson Canada, (514) 832-8480,,; McKesson Corporation: James
Larkin, Director, Corporate Communications McKesson Corporation, (415)
983-8736,,; Ana Schrank, Vice
President, Investor Relations, McKesson Corporation, (415) 983-7153,,

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