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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NA Proactive news snapshot: District Metals, Ocean Power Technologies, Plurilock Security, CareRx, AmeraMex International, Argentina Lithium & Energy, Love Pharma UPDATE...
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
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