Rexall Canada Drugstore Bought Out by USA company
Rexall is being sold to t McKesson Corp out of the USA for Canadian $3-billion deal
The sale by the Katz Group whom owned Rexall includes 470 retail stores, family doctor clinics and ClaimSecure a health care management firm.
Back in 2012 McKesson signed a deal and aquired from Rexall the IDA, & Guardian chain for 920 million
“Canada’s health-care environment is rapidly evolving; it is marked by a move of primary care into pharmacy and increasingly complex patient demand,” he said in a news release Wednesday.
Low Loonie makes Canadian company a lot cheaper to USA buisinessman especally when their encocomy is picking up and the loonie is weak.
McKesson also probably sees value in Rexall’s and plans to open up more stores
Rexall Health will continue to be led by current management as is.
In 2013, Loblaw Companies acquired Shoppers Drug Mart in a $12.4-billion deal, merging the grocery and pharmaceutical markets.
The founder and chairman of the Katz Group, Daryl Katz, said his company will continue to invest in its three other types of business: real estate, sports and entertainment, and investments. Whom also owns the Edmonton Oilers and plans to develop Rogers Place a New Hockey arena to open Fall of 2016