CRRX CareRX Corporation

TORONTO, Oct. 3, 2022 /CNW/ - CareRx Corporation ("CareRx" or the "Company") (TSX: CRRX), Canada's leading provider of pharmacy services to seniors living and other congregate care communities, today announced it has signed a multi-year contract to provide pharmacy services to residents in multiple seniors living facilities in Atlantic Canada, initially serving up to 600 residents. CareRx is currently in the process of establishing pharmacy operations in Atlantic Canada and expects to commence servicing homes in the third quarter of 2023.

"Establishing a presence in Atlantic Canada is another significant step in our growth journey and will further strengthen our position as the national leader in seniors pharmacy services," said David Murphy, President and Chief Executive Officer of CareRx. "We believe that our comprehensive and differentiated service model, which has been so successful in other provinces, will allow us to deliver higher quality and enhanced support to seniors housing operators in Atlantic Canada, becoming a foundation to further expand our presence and market share in the region in the years ahead."

Mr Murphy added, "Geographic expansion remains a key strategic priority for CareRx, and we are confident in our ability to further expand our presence to other new geographies as we continue to execute on our growth and leadership vision."

CareRx is Canada's leading provider of pharmacy services to seniors living communities. We serve over 97,000 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. 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