TORONTO, Jan. 20, 2022 /CNW/ - CareRx Corporation ("CareRx" or the "Company") (TSX: CRRX), Canada's leading provider of pharmacy services to seniors living communities, today announced that it has expanded the scope and product offering of its medical supplies business under a new brand, Revicare™.
Revicare™ will offer a significantly expanded assortment of medical supplies, including incontinence products, nutritional supplements, wound care products and other general medical supplies. CareRx currently operates a successful incontinence supplies business under the brand ClassMed™ that predominantly supplies incontinence products to residents living in select seniors living communities.
"The launch of Revicare™ is a natural step following our significant growth that has expanded our reach to close to 100,000 residents across Canada, and is consistent with our strategic focus on seniors care," said Puneet Khanna, Chief Commercial Officer of CareRx. "We believe that our enhanced offering of medical supply products will provide added convenience to our home operator partners and their residents who are already receiving their medications from CareRx."
"Revicare™ reflects our commitment to delivering comprehensive solutions to our home operator partners," said David Murphy, President and Chief Executive Officer of CareRx. "Our national footprint, service model and customer relationships enable us to provide seniors living communities with a broad portfolio of services and products that they need to deliver outstanding care to their residents. Although pharmacy remains our primary strategic focus, an increased focus on the medical supplies business creates an opportunity to strengthen our value proposition to home operators while generating an additional driver of long-term growth."
CareRx is Canada's leading provider of pharmacy services to seniors living communities. We serve over 96,000 residents in over 1,600 seniors and other congregate care communities (long-term care homes, retirement homes, assisted living facilities, and group homes). We are a national organization with a large network of pharmacy fulfillment centres strategically located across the country. This allows us to deliver medications in a timely and cost-effective manner and quickly respond to routine changes in medication management. We use best-in-class technology that automates the preparation and verification of multi-dose compliance packaging of medication, providing the highest levels of safety and adherence for individuals with complex medication regimes. We take an active role in working with our home operator partners to promote resident health, staff education, and medication system quality and efficiency.
This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. These forward-looking statements include, among others, statements regarding the Company's business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events, including in respect of its Revicare™ business. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate" or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management.
Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Factors that could cause such differences include the Company's exposure to and reliance on government regulation and funding, the Company's liquidity and capital requirements, exposure to epidemic or pandemic outbreak, the highly competitive nature of the Company's industry, reliance on contracts with key customers and other risk factors described from time to time in the reports and disclosure documents filed by the Company with Canadian securities regulatory agencies and commissions. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such future results, levels of activity or achievements and neither the Company nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. The factors underlying current expectations are dynamic and subject to change.
SOURCE CareRx Corporation
For further information: visit www.carerx.ca or contact: David Murphy, President & Chief Executive Officer, CareRx Corporation, 416-927-8400; Lawrence Chamberlain, Investor Relations, LodeRock Advisors, 416-519-4196, firstname.lastname@example.org