Loblaw has put forward a $170m bid to acquire QHR, an electronic medical records company, as it expands its Shoppers Drug Mart operations.
QHR supports about 7,700 healthcare providers across Canada, accounting for about 20% of the electronic medical record technology in use across the country. Canada’s largest grocer said the acquisition would be a “natural complement” to its existing retail pharmacy operations. It noted: “The future of healthcare is digital and this strategic investment will make us a better partner to patients and providers”.
The bid needs to be approved by two-thirds of QHR’s shareholders, and a vote is expected at a meeting in October. Loblaw said it plans to operate QHR as a separate unit within Shoppers Drug Mart, and will retain its headquarters in Kelowna, B.C.