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ARTICLE · 17 NOVEMBER 2016

October 2016 Deal Round-Up

Cassels
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Cassels

Cassels Brock & Blackwell LLP is a Canadian law firm focused on serving the transaction, advocacy,...

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A monthly round-up of a selection of major Canadian deals in the life sciences and healthcare sectors.

CanadaCorporate/Commercial Law
ACQUISITIONS
Date: October 13, 2016

Acquirer: Loblaw Companies Limited, through its wholly owned subsidiary, Shoppers Drug Mart Inc.

Target: QHR Corporation

Deal size: Approx. CDN$170,000,000

Description: On October 13, 2016, Loblaw Companies Limited, through its wholly-owned subsidiary, Shoppers Drug Mart Inc., completed its acquisition of all of the issued and outstanding shares of TSX-V listed QHR Corporation for CDN$3.10 in cash per share. As of close of business on September 6, 2016, there were 52,262,877 QHR shares and QHR options to purchase an aggregate of 2,684,910 QHR shares outstanding, making the total bid for the acquisition approximately CDN$170,000,000. The acquisition was completed by way of a plan of arrangement under Section 192 of the Canada Business Corporations Act. Canadian QHR Corporation's offerings include an electronic medical records platform and a variety of clinical management tools.

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