Ottawa-based pharmacy services company Desjardins Healthcare Group has been sold for an undisclosed amount to a Toronto-area firm that caters to long-term care and retirement facilities.
Medical Pharmacies Group Ltd., which is based out of Pickering, announced the deal on Monday.
The agreement allows MPGL to expand into eastern Ontario while adding “an expansive range of new health-care products and services,” wrote Ed Jamieson, the firm’s CEO, in an e-mail.
He declined to say for how much the company was purchased.
"Joining forces will enable us to offer the most comprehensive suite of pharmacy services and medical products available in Canada," said Jean Desjardins, managing partner of Desjardins Healthcare Group, in an MPGL statement.
"We look forward to the opportunity to bring our experience and knowledge to the group's many clients, which will result in innovative and cost-effective health-care solutions."
The agreement, which is set to close next month, will bring together more than 1,000 employees in Ontario and British Columbia under one banner. That includes more than 800 people who work for MPGL and over 200 at Desjardins.
When asked if there would be any employee reductions as a result of the acquisition, Mr. Jamieson said there was “little overlap” between the two organizations.
“We anticipate that the combination will therefore provide new growth opportunities. This, in turn, will lead to new career opportunities for employees of both companies,” he wrote in the e-mail.
“As a result we anticipate little change in the number of positions needed to serve the combined customer base.”
Desjardins brings a number of unique services to the table, the MPGL press release said. This includes home infusion therapy, total parental nutrition and medical products and equipment services.
The new company will serve more than 45,000 seniors in long-term care and retirement homes, the press release said.