Loblaw locks down QHR, Canada's leading electronic medical records platform
BRAMPTON, Ontario - Loblaw Companies and QHR on Thursday announced that Loblaw, through its wholly-owned subsidiary, Shoppers Drug Mart, has completed its acquisition of QHR for approximately $170 million, or $3.10 in cash per share.
As a result of the arrangement, QHR is now a wholly-owned subsidiary of SDMI.
“The future of healthcare is digital and this strategic investment will make us a better partner to patients and providers,” Loblaw and Shoppers Drug Mart EVP pharmacy and healthcare Jeff Leger stated when the deal was first announced. “QHR brings complementary talent and technology to our organization, providing opportunities to establish new business partnerships and drive improved care coordination for Canadians.”
According to the company, QHR is the single leading electronic medical records platform in Canada, and boasts a suite of complementary offerings that empower health professionals. The company's technologies and services enable secure medical records management for clinical environments, empowering health providers with tools for virtual care, including secure video and messaging, as well as tools for clinic management including scheduling, billing and patient management.
Health providers choose QHR to drive efficiencies within their practice and improve the quality of care delivered to patients.
QHR is expected to operate as a distinct business within the Shoppers Drug Mart division of Loblaw and QHR’s management team will be continuing in their current roles while becoming a part of Loblaw’s larger pharmacy and healthcare group. Currently, QHR supports 7,700 healthcare providers, or about 20% of Canada’s EMR technology use. As part of Loblaw, it will continue to develop its platform and interoperability while expanding solutions for patient care and practice management.