Loblaw to acquire healthcare technology company

Loblaw Cos. has agreed to acquire QHR Corp., a Canadian Healthcare Technology Company, for $170 million. QHR is expected to operate as a distinct business within the Shoppers Drug Mart division of Loblaw, and remain headquartered in Kelowna, British Columbia.

It is a natural complement for Loblaw, a source of pharmacy and health and wellness solutions for patients and providers, according to the companies.

“The future of healthcare is digital and this strategic investment will make us a better partner to patients and providers,” said Jeff Leger, EVP, pharmacy and healthcare for Loblaw and Shoppers Drug Mart, in a statement. “QHR brings complementary talent and technology to our organization, providing opportunities to establish new business partnerships and drive improved care coordination for Canadians.”

QHR supports 7,700 healthcare providers, representing about 20% of electronic medical record technology throughout Canada. It will continue to develop its leading electronic medical record platform and interoperability, and expand solutions for effective patient care and practice management.