Company
CareRx Corporation
TSE:CRRX
CareRx Corporation is Canada's leading provider of pharmacy services to seniors living communities and other institutional settings, serving over 96,000 residents in over 1,600 facilities communities (long-term care homes, retirement homes, assisted living facilities, and group homes). CareRx uses best-in-class technology that automates the preparation and verification of multi-dose compliance packaging of medication. CareRx’s growth strategy is focused on capitalizing on the favourable demographics that exist in the expanding seniors market through a multi-pronged organic growth and acquisition strategy. CareRx is well positioned to continue to increase the number of beds serviced by winning significant new contracts and making accretive acquisitions.
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CareRx's 3Q results "solid" in spite of inflationary headwinds and healthcare spending, analysts say
In 3Q, the company reported revenue of $97.4 million, up 37% from the $71.3 million reported in the year-ago quarter, which Leede Jones Gable considered “solid,” if sequentially soft
CareRx reports 37% 3Q revenue jump driven by acquisitions and organic growth
The company reported third-quarter revenue of $97.4 million, up 37% from the $71.3 million reported in the year-ago quarter
CareRx's geographic expansion pleases Leede Jones Gable analysts
The broker reiterated its buy rating and C$5.50 price target following the news that CareRx has signed a multi-year contract to provide pharmacy services to residents in multiple senior living facilities in Atlantic Canada
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CareRx signs multi-year contract to provide pharmacy services to residents in seniors living facilities in Atlantic Canada
"Establishing a presence in Atlantic Canada is another significant step in our growth journey and will further strengthen our position as the national leader in seniors pharmacy services," said David Murphy, CareRx president and CEO
CareRx a ‘Buy’ despite headwinds on the horizon say analysts at Leede Jones Gable
Analysts wrote that they were encouraged by CareRx's sustained revenue and EBITDA stability but noted challenges in both revenue compression and cost escalation compelled caution on near-term profitability
CareRx reports continued strong growth in Q2 with revenue almost doubling
The company remains optimistic about its long-term growth prospects "as the market leader in a highly fragmented industry with favourable demographic and other trends", said company CEO David Murphy
CareRx stock has more than 100% potential upside, says Canaccord Genuity
The Canaccord analysts pointed out that CEO David Murphy has transformed the company since taking the reins in 2018
CareRx closes acquisition of Hogan Pharmacy Partners, inks multi-year partnership with seniors living operator
Hogan is expected to increase its beds serviced to nearly 2,000 beds by the fourth anniversary of closing based on new bed license allocations and other anticipated growth plans for their customers
CareRx sustains positive 1Q EBITDA generation despite some sequential softness, Leede Jones Gable analysts say
The analysts believe CareRx can successfully navigate economic hurdles better than its peers and can continue to profitably grow by acquisition as it historically has to build out its existing operations
CareRx Corporation says integration of new acquisitions and organic growth led to 108% jump in 1Q revenue
"We delivered a solid start to 2022 despite average bed count for the quarter being slightly dampened by the impact of the Omicron variant,” CareRx president and CEO David Murphy said
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CareRx Corporation releases inaugural ESG report
"While this may be our first ESG report, ESG initiatives have long been an important part of our identity and are reflected in our core values of Collaboration, Accountability, Responsiveness and Excellence," said CareRx president and CEO D
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CareRx Corporation appoints Maria Perrella as independent member of its board of directors
"Ms. Perrella has a proven track record of business leadership and success at high growth publicly traded companies. Her depth and breadth of experience make her a valuable addition to the CareRx Board and we look forward to her contributio
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CareRx to acquire Ontario’s Hogan Pharmacy Partners in C$4.4M stock-and-debt deal
The Toronto-based company said the acquisition adds an innovative pharmacy services delivery model with meaningful organic growth expected from existing customers
Canaccord Genuity and Stifel GMP forecast strong revenue growth for Canadian healthcare firm CareRx
Stifel GMP noted that CareRx's 4Q 21 revenue figure of C$97 million came in ahead of street expectations of C$94 million
CareRx Corporation clocks up C$96.9M in 4Q revenue as its pharmacy services grow rapidly
For the period ended December 31, 2021, the Toronto-based provider of pharmacy services to senior living communities, reported revenue of C$96.9 million, compared to C$46.4 million in the corresponding period a year earlier
CareRx welcomes Ontario Ministry of Health’s postponement of changes to long-term care pharmacy funding
"We applaud the Ontario Ministry of Health for once again making the decision to postpone its planned fee changes as long-term care homes and their staff continue to manage through the still significant challenges created by the coronavirus
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CareRx expands scope of medical supplies business under new Revicare brand
The company said Revicare will offer a significantly expanded assortment of medical supplies, including incontinence products, nutritional supplements, wound care products and other general medical supplies
CareRx to roll out BD Rowa Dose medication packaging technology at its first high-volume pharmacy in Ontario
The company said use of this technology is expected to further increase quality and safety while driving efficiencies in clinical workflow and enhancing its operating margins
CareRx 3Q earnings beat generates widespread praise from Bay Street analysts
Analysts were impressed with CareRx's 3Q revenue of C$71.3 million, which beat estimates and led to a series of increased price targets
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CareRx Corporation sees 3Q revenue rise by 56%, driven by acquisitions and strong organic growth
For the period ended September 30, 2021, the Toronto-based company reported revenue of C$71.3 million, compared to C$45.6 million in the corresponding period a year earlier
CareRx sees Canaccord Genuity increase price target to C$7 following strong 4Q results
The Toronto-based company delivered revenue of C$46.4 million and an adjusted EBITDA of $4.1 million, in line with expectations for the three-month period to end December 2020