Loblaw to purchase Canadian healthcare tech company QHR

BRAMPTON, Ontario and KELOWNA, British Columbia — Loblaw, owner of Canada’s largest retail pharmacy chain Shoppers Drug Mart, announced Monday that it will be acquiring healthcare technology company QHR. Loblaw will be paying $170 million for the provider of electronic medical records, which is a 22% premium to the closing price on the Toronto Stock Exchange, and QHR’s board of directors has approved the deal. 

 

“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 said. “QHR brings complementary talent and technology to our organization, providing opportunities to establish new business partnerships and drive improved care coordination for Canadians.”

 

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. 

 

“The future of healthcare is digital and this strategic investment will make us a better partner to patients and providers,” said Jeff Leger, Executive Vice President, Pharmacy and Healthcare, Loblaw and Shoppers Drug Mart. “QHR brings complementary talent and technology to our organization, providing opportunities to establish new business partnerships and drive improved care coordination for Canadians.”