Combined company will now operate more than 100 pharmacies in four provinces, reaching more rural and underserved communities
WEYBURN, SK, April 2, 2018 /CNW/ - Rubicon Pharmacies Canada Inc. ("Rubicon") today announced that it has completed its merger with Amenity Holdings Inc. ("Amenity"), a complementary retail pharmacy platform. The name of the newly combined company will be Rubicon Pharmacies and the business will own and operate more than 100 pharmacies across Alberta, British Columbia, Manitoba, and Saskatchewan, under a number of retail pharmacy banners. Terms of the transaction were not disclosed.
"We are thrilled for the opportunity to bring together two companies with the same mission: A commitment to providing the highest quality experience for the people we serve with a focus on improving health," said Michael Wright, CEO of Rubicon, who will lead the combined entity. "This transaction, backed by TorQuest Partners, creates an opportunity for pharmacy owners interested in selling to an independent group to join Rubicon's vision of building a leading Canadian pharmacy organization".
"Rubicon's scale, cutting-edge central fill and Long-term Care offering make the combined entity better positioned to execute on the key goal of improving patient outcomes," said Dalbir Bains, CEO of Amenity. "Amenity's customers are in great hands with Rubicon's patient relationship-based business model."
Day-to-day pharmacy operations will not be affected by the integration of the two companies and will continue seamlessly and without interruption.
"As we began discussing a possible transaction, it became abundantly clear to both Rubicon's and Amenity leadership that the combination of marrying industry-leading people with patient-centered business practices would create an exciting and powerful platform in our marketplace," said Wright. "We can't wait to welcome Amenity's employees and to bring best-in-class pharmacy products and services to more Western Canadian communities."
In addition to Mr. Wright being named CEO of the newly combined entity, the newly constituted executive team will draw from veterans of both companies. Dwayne Hoffman will serve as Chief Development Officer, and Robert Gare remains in his role as Chief Operating Officer. Keith McMahon, CFO of Amenity, will assume the CFO role of the combined platform.
TorQuest Partners, one of Canada's leading mid-market private equity firms, is the majority shareholder of Amenity.
About Rubicon Pharmacies Canada
Established in 2005, Rubicon operates 67 pharmacies across Alberta, Manitoba, and Saskatchewan, primarily located in rural towns and neighbourhood communities of larger urban centres. Rubicon operates its pharmacies under a number of different independent retail banners. For more information, please visit www.rubiconpharmacies.com.
About Amenity Health Care
Established in 2013, Amenity Health Care operates 34 pharmacies across Alberta, Manitoba, Saskatchewan, and British Columbia, located in mostly rural and underserviced communities. Amenity operates its pharmacies under a number of different independent retail banners. For more information, please visit www.amenityhealthcare.com.
Chief Executive Officer
E: [email protected]
SOURCE Rubicon Pharmacies Canada
For further information: To arrange an interview, please contact Mr. Wright at 306-735-7689 or [email protected]