CareRx Corporation (TSX:CRRX) said it has expanded the scope and product offering of its medical supplies business under a new brand, Revicare.
The Toronto-based provider of pharmacy services to senior living communities said Revicare will offer a significantly expanded assortment of medical supplies, including incontinence products, nutritional supplements, wound care products and other general medical supplies.
The company noted that it currently operates a successful incontinence supplies business under the brand ClassMed that predominantly supplies incontinence products to residents living in select seniors living communities.
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"The launch of Revicare is a natural step following our significant growth that has expanded our reach to close to 100,000 residents across Canada and is consistent with our strategic focus on seniors care," CareRx chief commercial officer Puneet Khanna said in a statement.
"We believe that our enhanced offering of medical supply products will provide added convenience to our home operator partners and their residents who are already receiving their medications from CareRx.”
CareRx said although pharmacy remains its primary strategic focus, an increased focus on the medical supplies business creates an opportunity to strengthen its value proposition to home operators while generating an additional driver of long-term growth.
"Revicare reflects our commitment to delivering comprehensive solutions to our home operator partners," president and CEO David Murphy added.
"Our national footprint, service model and customer relationships enable us to provide seniors living communities with a broad portfolio of services and products that they need to deliver outstanding care to their residents.”
CareRx has a large network of pharmacy fulfillment centers strategically located across Canada. This allows it to deliver medicines in a timely and cost-effective manner.
Contact the author at stephen.gunnion@proactiveinvestors.com