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    CRRX   CA14173C1059

CARERX CORPORATION

(CRRX)
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CareRx : Expands Partnership with Think Research to Deliver Virtual Care Telemedicine Across Chartwell Retirement Homes

09/21/2021 | 04:31pm EST

TORONTO, Sept. 21, 2021 /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 that it has expanded its partnership with Think Research Corporation (TSXV: THNK) ("Think"), a company focused on transforming healthcare through integrated digital health software solutions, to deliver virtual healthcare to residents in Chartwell Retirement Residences ("Chartwell") (TSE: CSH.UN). This expansion follows a successful pilot project in selected Chartwell residences, which began in March of this year.

Under the expanded partnership, Think's telemedicine software will be made available in Chartwell homes, providing seniors with efficient and secure access to a network of leading physicians and specialists from the comfort of their own residence. Any prescription medication a resident requires following a virtual appointment can be filled by CareRx and delivered directly to the resident on the same day, reducing the need for transportation.  This innovative offering will be available in Chartwell locations in Ontario, British Columbia and in Alberta. The rollout of the program will begin in September and continue through early 2022.

"We are proud to have played an integral role as Think's pharmacy services partner in the success of the pilot project, which has proven the value of their telemedicine solution in improving access to care and medication through technology," said David Murphy, President and Chief Executive Officer, CareRx. "We look forward to continuing our work with both Think and Chartwell, providing Chartwell's residents with the option of a face-to-face physicians' appointment in a timely and effective manner, and quick and easy access to their prescription medications, all from the convenience of their residence."

Think CEO Sachin Aggarwal said, "We are proud to partner with both CareRx and Chartwell on this innovative healthcare experience to achieve our collective goal: improve access to care and better health outcomes for everyone. Building on the success of the pilot project, this partnership reduces the risk of spreading viruses within retirement communities by limiting in-person interactions while also ensuring that all seniors have access to timely and effective healthcare services."

"We are pleased to be able to offer our residents an innovative and convenient digital health service that will enhance the overall resident experience and provide even greater peace of mind for families and loved ones. Thank you to CareRx and Think Research Corporation for helping to make the lives of our residents better," said Vlad Volodarski CEO of Chartwell Retirement Residences.

About Think Research Corporation

Think is an industry leader in delivering knowledge-based digital healthcare software solutions. The Company's focused mission is to organize the world's health knowledge so everyone gets the best care. Its evidence-based healthcare technology solutions support the clinical decision-making process, standardize care, and improve patient outcomes. For over a decade, Think's cloud-based, EMR-agnostic digital tools have empowered clinicians around the world and positively impacted millions of patients across the continuum of care – including primary physician care, acute care hospitals and surgical suites as well as community and seniors care. Think is proud to serve as a trusted health system partner to a rapidly growing, global client base that spans five continents and more than 2,800 healthcare facilities.

About Chartwell

Chartwell is an unincorporated, open-ended real estate trust which indirectly owns and operates a complete range of seniors housing communities, from independent supportive living through assisted living to long term care. It is the largest operator in the Canadian seniors living sector with over 200 quality retirement communities in four provinces. Chartwell is committed to its vision of Making People's Lives BETTER and to providing a happier, healthier and more fulfilling life experience for its residents. For more information, visit www.chartwell.com.

About CareRx

CareRx is Canada's leading provider of pharmacy services to seniors living communities. We serve over 92,000 residents in over 1,500 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.

Forward-Looking Statements

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, acquisitions and integrations undertaken by the Company, 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

© Canada Newswire, source Canada Newswire English

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Sales 2021 257 M 200 M 200 M
Net income 2021 -25,1 M -19,5 M -19,5 M
Net Debt 2021 - - -
P/E ratio 2021 -7,86x
Yield 2021 -
Capitalization 221 M 173 M 172 M
Capi. / Sales 2021 0,86x
EV / Sales 2022 0,58x
Nbr of Employees 850
Free-Float 77,0%
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David Murphy President, Chief Executive Officer & Director
Andrew Mok Chief Financial Officer
Jack Shevel Chairman-Emeritus
Kevin William Dalton Chairman
Jeff May Chief Operating Officer
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