In a bid to expand Shoppers Drug Mart health care offerings parent company Loblaw is purchasing Lifemark Health Group from Audax Private Equity. Lifemark provides outpatient services such as massage, occupational and physical therapy as well as chiropractic, mental health and other rehab in their 300 plus clinics located throughout Canada. The deal is said to be worth $845 million.
While this is their largest acquisition to date, it is just the most recent following a pattern of investments in the Canadian health care sector over the past few years.
They currently operate four “Health Clinic by Shoppers” in Toronto offering general medical services with two more planned for Ottawa, Ontario. They have also acquired a software company called QHR which offers electronic medical records for doctors as well as a stake in Maple Corp. which provides Toronto area telemedical services. They have even tried offering cosmetic dentistry and dermatology in some locations.
They partnered with League to develop the PC Health App which features live chats with nurses and provides health care referrals. Customers can earn PC Optimum loyalty points by completing fitness challenges or purchasing health and wellness items. Lifemark is already a partner clinic that allows appointments to be booked through the PC App.
This is part of a larger strategy by Loblaw to expand their reach beyond the pharmacy counter into related health care services.