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Rexall’s buyer thirsty for Canadian pharmacy assets Add to ...

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McKesson who? The American company buying Rexall for $3-billion barely registers with the average Canadian, but McKesson Corp. – with $179-billion (U.S.) in revenue in 2015 – is a big name in the pharmacy world and has been on a buying spree here for the past eight years.

The Canadian acquisition campaign commenced in 2008, when San Francisco-based McKesson bought 270 independently owned pharmacies operating under the Proxim and ProxiMeds brands in Quebec. The company then tried to buy Uniprix, Quebec’s largest pharmacy operator. Despite board approvals from both sides, however, the deal was struck down by pharmacists who didn’t like the terms.

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