PharmaCorp to Acquire Eight Pharmacies and Provides Acquisition Pipeline Update
- The acquisition of eight pharmacies at an aggregate purchase price of approximately $24.2 million
- The acquisitions are expected to increase PharmaCorp’s store count from six to fourteen locations, reflecting the planned integration of the two Western Canada locations acquired on October 1, 2025.
SASKATOON, Saskatchewan, April 30, 2026 (GLOBE NEWSWIRE) -- PHARMACORP RX INC. (“PharmaCorp” or the “Corporation”) (TSXV: PCRX) a Canadian pharmacy acquisition and ownership platform for pharmacist-led community pharmacy ownership, is pleased to announce that it has entered into definitive share purchase agreements, each dated April 28, 2026 (collectively, the “Agreements”) to acquire from two arm’s length vendor groups (collectively, the “Vendors”) a 100 percent interest in eight PharmaChoice Canada bannered pharmacies located in Eastern Canada (the “Acquisitions”), representing a meaningful expansion of the Corporations geographical footprint and operating scale.
In addition, the Corporation has also entered into non-binding letters of intent (“LOIs”) in respect of four additional pharmacy acquisitions.
Acquisitions
“The Acquisitions reflect the continued execution of our acquisition strategy and the strength of our sourcing network,” said Alan Simpson, Executive Chairman. “The clustering of these locations within a key urban market, combined with the continuity of experienced managing pharmacists, positions us to integrate efficiently while maintaining strong local relationships and operating performance. We are seeing an increasing number of acquisition opportunities where we are engaged early in the process, allowing us to selectively pursue acquisitions that align with our disciplined approach to valuation, integration, and long-term value creation.”
The aggregate purchase price for the Acquisitions is approximately $24,200,000, subject to customary adjustments (the “Purchase Price”) and is expected to be funded using the Corporation’s existing cash resources. The eight pharmacies represent a meaningful expansion of PharmaCorp’s footprint in Eastern Canada, with a clustered group of locations in a major urban market. Six of the eight locations are situated within a 15-kilometre radius of a primary urban centre, supporting increased market density, operational efficiencies, and procurement leverage. The remaining two locations serve rural communities, further diversifying the Corporation’s regional footprint.
All locations will continue to be operated by their existing managing pharmacists, ensuring continuity of care, preserving patient relationships, and supporting a seamless transition and integration into the PharmaCorp platform.
The purchase price is consistent with PharmaCorp’s acquisition framework and in line with the Corporation’s multiple acquisition parameters, supporting accretion on invested capital.
The Acquisitions are expected to increase PharmaCorp’s store count from six to fourteen locations, reflecting the planned integration of the two Western Canada locations acquired on October 1, 2025.
The Acquisitions are expected to close within 60 days, subject to customary closing conditions. No finder’s fees are payable in respect of the Acquisitions.
Acquisition Pipeline Update
In addition to the Acquisitions, the Corporation has executed non-binding LOIs, dated February 23, 2026, February 27, 2026, March 3, 2026 and March 23, 2026, respectively, in respect of four additional pharmacy acquisitions, which are currently progressing through due diligence. If completed, these proposed acquisitions (the “Proposed LOI Acquisitions”) are expected to close over the next two quarters, subject to customary conditions.
PharmaCorp expects to complete the Proposed LOI Acquisitions using existing capital resources, while continuing to evaluate additional capital opportunities to support its growth strategy as its acquisition pipeline expands.
Completion of each of the Proposed LOI Acquisitions is subject to the execution of a definitive agreement, which will include the final agreed upon terms and conditions of each Proposed LOI Acquisition, including such terms, representations, warranties, indemnities and covenants as are customary in transactions similar to the Proposed LOI Acquisitions, and the satisfaction of customary conditions, including satisfactory due diligence. There can be no assurance that the Proposed LOI Acquisitions will be completed as proposed, or at all.
The Proposed LOI Acquisitions reflect continued sourcing momentum through PharmaCorp’s network and expanding acquisition pipeline and are consistent with the Corporation’s disciplined approach to accretive growth, targeting independent pharmacy assets aligned with its operating model and integration capabilities, and are expected to support EBITDA growth through operational efficiencies, centralized systems and procurement leverage.
There can be no assurance that any of the Proposed LOI Acquisitions will result in completed transactions. PharmaCorp intends to provide further updates on the Proposed LOI Acquisitions as they progress and, where applicable, if definitive agreements are executed.
About PharmaCorp Rx Inc.
PharmaCorp is a Canadian pharmacy acquisition and ownership platform focused on empowering pharmacists as equity partners and supporting succession for retiring pharmacy owners. Through a combination of capital, strategic support, and operational expertise, PharmaCorp is building a national network of community pharmacies under the PharmaChoice Canada banner. PharmaCorp currently operates six PharmaChoice Canada bannered pharmacies, reflecting the planned integration of the two Western Canada locations acquired on October 1, 2025, and will continue to acquire both PharmaChoice Canada bannered and independent pharmacies across Canada, rebranding non-bannered locations under the PharmaChoice Canada platform in accordance with its strategic alliance with PharmaChoice Canada. PharmaCorp shares trade on the TSX Venture Exchange under the symbol: PCRX.
PharmaCorp actively welcomes discussions with pharmacy owners considering succession or sale. For more information about our acquisition program and process, please visit www.PharmaCorpRx.ca or contact our team confidentially. We are committed to seamless transitions that protect your legacy and serve your community.
For further information, please contact:
Investor Relations
info@pharmacorprx.ca
Tel: (306) 536-3771
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release contains “forward-looking information” regarding the Corporation within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information in relation to: the potential Acquisitions, including the potential to integrate the Acquisitions efficiently while maintaining strong local relationships and operating performance, the potential closing of and closing date for the Acquisitions, the funding for the Acquisitions consisting of the Corporation’s existing cash resources; the non-binding LOIs and the Proposed LOI Acquisitions including the expectation that the Proposed LOI Acquisitions will close over the next two quarters, subject to customary conditions, the consideration for the Proposed LOI Acquisitions, the execution of definitive agreements for the Proposed LOI Acquisitions, the expected terms of the Proposed LOI Acquisitions, the expected conditions (including due diligence) and satisfaction of those conditions for the completion of the Proposed LOI Acquisitions, the Potential LOI Acquisitions reflecting continued sourcing momentum through the Corporation’s network and expanding acquisition pipeline and the Corporation’s disciplined approach to accretive growth, targeting independent pharmacy assets aligned with its operating model and integration capabilities and the expectations that the Potential LOI Acquisitions will support EBITDA growth through operational efficiencies, centralized systems and procurement leverage; the Corporation’s disciplined approach to valuation, integration, and long-term value creation; the increasing number of acquisition opportunities the Corporation is seeing; the Corporation continuing to evaluate additional capital opportunities to support its growth strategy as its acquisition pipeline expands; the Corporation’s focus on empowering pharmacists as equity partners and supporting succession for retiring pharmacy owners; the Corporation’s strategy of building a national network of community pharmacies under the PharmaChoice Canada banner through a combination of capital, strategic support, and operational expertise; the Corporation’s intention to continue to acquire both PharmaChoice Canada bannered and independent pharmacies across Canada, rebranding non-bannered locations under the PharmaChoice Canada platform in accordance with its strategic alliance with PharmaChoice Canada. This forward-looking information reflects current beliefs and is based on information currently available to the management of the Corporation and on assumptions the Corporation believes are reasonable. These assumptions include, but are not limited to: the completion of previously announced acquisitions, including the Acquisitions; the receipt of all required approvals and consents for the closing of the Acquisitions; the satisfaction or waiver of all conditions in relation to the Acquisitions; the availability of using existing cash resources to fund the Acquisitions; the execution of a definitive agreement for the Proposed LOI Acquisitions; the completion of satisfactory due diligence on the Proposed LOI Acquisitions and the satisfaction of typical closing conditions for the Proposed LOI Acquisitions; the receipt of all required approvals for the Proposed LOI Acquisitions, including any board approvals or third party consents; market acceptance of the Proposed LOI Acquisitions; the continued supply of pharmacies for purchase by the Corporation at prices satisfactory to Corporation; and the volume of acquisition opportunities presented to the Corporation being equal to or greater than historical volumes. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board of directors, third party or regulatory approvals; competition; changes in legislation, including pharmacy regulation, affecting the Corporation; the timing and availability of external financing on acceptable terms; conclusions of economic evaluations and appraisals; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation’s disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although the Corporation has attempted to identify important risks and factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of the Corporation as of the date of this news release and, accordingly, is subject to change after such date. However, the Corporation expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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