News Briefs

Loblaw Companies Ltd. banner Shoppers Drug Mart has agreed to sell its 42 Wellwise by Shoppers locations to Verillium Health Care.

Wellwise by Shoppers is a retail concept introduced by the the drugstore chain in 2017, designed to help Canadians stay healthy and active as they age. It offers specialized active lifestyle products including supports and braces, CPAP and sleep therapy, mobility, and low-impact fitness products. 

Verillium owns and operates several North American healthcare companies with the stated goal to improve, nurture and grow them through implementing best practices and new technologies.

"We are excited about this opportunity and what we believe we can bring to Canadians through these locations," Dezso Farkas, director of acquisitions and chief investment officer of Verillium, said in a media release. 

"The evolution from Home Health Care stores to Wellwise by Shoppers was all about helping Canadians as they looked for more ways to support healthy active lifestyles as they age," Jeff Leger, president of Shoppers Drug Mart, said in the release. "This next evolution for the business is about finding the right company to focus on its continued growth, while making products and services more accessible to Canadians. We believe Verillium perfectly suits that objective."

Shoppers Drug Mart will continue to operate the stores until the transaction closes, which is expected sometime in the first calendar quarter of 2025. The financial terms of the sale were not disclosed.