BRAMPTON, ON, May 10, 2022
/CNW/ - Loblaw Companies Limited (TSX: L) ("Loblaw") today
confirmed the closing of the previously announced acquisition of
Lifemark Health Group ("Lifemark") from Audax Private Equity.
Lifemark is a leading provider of outpatient physiotherapy,
massage therapy, occupational therapy, chiropractic, mental health
and other ancillary rehabilitation services in Canada. With this acquisition, Loblaw through
its wholly-owned subsidiary Shoppers Drug Mart Inc., adds to its
growing role as a healthcare service provider, with a network of
health and wellness solutions, accessible in-person and
digitally.
About Loblaw Companies
Limited
Loblaw Companies Limited is Canada's food and pharmacy leader, with a
network of more than 2,400 corporate, franchised and
Associate-owned locations in communities across the country.
Loblaw's purpose – Live Life Well® – supports the needs and
well-being of Canadians who make one billion visits each year to
the company's stores.
Led by Shoppers Drug Mart, the leader in Canada's retail drug store marketplace and the
number one provider of pharmacy products and services, Loblaw
offers full-service pharmacies and a range of services like
prescriptions, med checks, vaccinations, minor-ailment diagnoses,
and nutrition consultations in more than 1,800 locations in 10
provinces and 2 territories, including in Shoppers Drug Mart,
PharmaPrix, Loblaw pharmacy, DRUGStore Pharmacy and CENTRESante
locations.
About Lifemark Health
Group
Lifemark Health Group is a Canadian leader in community
rehabilitation, workplace health and wellness and medical
assessment services. With over 20 years of service excellence,
Lifemark Health Group is a comprehensive and trusted health
provider with 3 million patient visits annually, and employs over
5,000 highly trained clinicians, medical experts and team
members.
As Canada's largest
physiotherapy company, Lifemark is passionate about enriching the
health of Canadians through movement. Lifemark's commitment to
health and wellness extends beyond patient care, to the entire
team, as evidenced through an award-winning culture.
About Audax Private
Equity
Audax Group is a leading alternative investment manager with
offices in Boston, New York, and San
Francisco. Since its founding in 1999, the firm has raised
over $30 billion in capital across
its Private Equity and Private Debt businesses. Audax Private
Equity has invested over $9 billion
in more than 150 platforms and over 1050 add-on companies, and is
currently investing out of its $3.5
billion, sixth private equity fund. Through its disciplined
Buy & Build approach, Audax seeks to help platform companies
execute add-on acquisitions that fuel revenue growth, optimize
operations, and significantly increase equity value. With more than
30 employees and over 100 investment professionals, the firm is a
leading capital partner for North American middle market companies.
For more information, visit the Audax Private Equity website
www.audaxprivateequity.com
Forward Looking
Statements
This press release may contain forward-looking information
within the meaning of applicable securities legislation, which
reflects Loblaw's current expectation regarding future events.
There can be no assurance regarding the ability of Loblaw to
successfully grow its business as described in this press
release.
Forward-looking information is based on a number of assumptions
and is subject to a number of risks and uncertainties, many of
which are beyond Loblaw's control, that could cause actual results
and events to differ materially from those that are disclosed in or
implied by such forward-looking information. Such risks and
uncertainties include, but are not limited to, the factors
discussed in Loblaw's current Annual MD&A and Annual
Information Form. Loblaw does not undertake any obligation to
update such forward-looking information, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable law. All forward-looking statements
contained in this press release are made as of the date hereof and
are qualified by these cautionary statements.
SOURCE Loblaw Companies Limited