Transaction expected to be immediately accretive and will further strengthen market position in
The Transaction is expected to be immediately accretive to
"SmartMeds has established an excellent reputation in the industry as a leader in innovation, quality, and customer service," said
SmartMeds is recognized as an innovator in seniors care pharmacy, with a reputation for value-added technology and an outstanding service culture. SmartMeds exclusively licenses proprietary technology called SmartLinkTM, a web-based operating software that provides real-time information for resident care and creates efficiencies in filling prescriptions. SmartLinkTM helps ease the workload for home operator staff and has helped SmartMeds achieve medication error rates that are well below industry averages.
The closing consideration is comprised of
Closing of the Transaction is expected to occur by
About
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, 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.
Non-IFRS Measures
This press release includes certain measures which have not been prepared in accordance with IFRS, such as EBITDA. These non-IFRS measures are not recognized under IFRS and, accordingly, shareholders are cautioned that these measures should not be construed as alternatives to net income determined in accordance with IFRS. The non-IFRS measures presented are unlikely to be comparable to similar measures presented by other issuers.
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