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Jean Coutu gains stake in home care provider
October 1st, 2013
MONTREAL – The Medicus Group, in which Canadian drug chain Jean Coutu Group owns a 50% stake, is acquiring Oxybec Sante-Confort, a Quebec-based provider of home care products and services.
Under the deal announced Monday, Jean Coutu Group and Medicus' owning Bleau family will each own 47.5% of Oxybec, and Oxybec president Christian Fabi will own 5% of the company. Financial terms of the agreement weren't disclosed.
Medicus operates 13 stores in Quebec under the banners of Medicus and Medicus Sport, as well as manufactures and distributes a range of orthopedic devices and rehabilitation and comfort products. Jean Coutu announced last December that it was buying a 50% stake in Medicus and that, after the transaction, Medicus would maintain its store network and an independent management team.
"We are aware of the growing needs of an aging customer base in Quebec and the upcoming 'Livre blanc' in the home care organization," Jacinte Bleau, president and chief executive officer of Medicus Group, said in a statement. "The expertise of Mr. Christian Fabi and the Oxybec team adds to the Medicus know-how in order to better develop this market, keeping in mind its quest for excellence."
Oxybec offers home care services and products, including autonomy and mobility equipment, for the institutional and private sectors.
"We are proud to partner with Medicus and the Jean Coutu Group, who share our values and are highly concerned with offering high-quality products and services," Fabi stated. "The sharing of the two companies' expertise will benefit our customers. Autonomy is security at home, the prevention of falls, the secure adaptation of the home, the fitting of a bathroom as well as bringing technical support to the people with reduced mobility or loss of autonomy."