Monday, January 19, 2009

McKesson Canada makes bid for Quebec's Uniprix pharmacy group

From the Canadian Press:
Health-care logistics firm McKesson Canada has bid to purchase pharmacy chain Uniprix Inc. in a defensive move to preserve its distribution network in Quebec, industry analysts said Monday.

Financial details of the offer were not disclosed. Under the deal that had been rumoured last July, McKesson would acquire Uniprix's shares and member-pharmacists in the co-operative style chain would remain owners of their pharmacies.

The deal continues the recent growth in Quebec by McKesson Corp. (NYSE:MCK), a San Francisco-based pharmacy products distributor.

Last summer, McKesson bought a 270-outlet Quebec chain that operates under the Proxim and ProxiMeds banners.

"McKesson Canada is enthusiastic about the prospect of this transaction, which will strengthen our long-standing business relationship with the Uniprix Group for the distribution of pharmaceutical products, over-the-counter medications, and consumer products," McKesson president Domenic Pilla said in a statement. ...more

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