CareRx Announces Retirement of Dr. Jack Shevel as Director

TORONTO, Dec. 7, 2022 /CNW/ - CareRx Corporation ("CareRx" or the "Company") (TSX: CRRX), Canada's leading provider of pharmacy services to seniors living and other congregate care communities, today announced that Dr. Jack Shevel, a director and Chairman Emeritus of CareRx, will retire from the Company's Board of Directors effective December 31, 2022.

Dr. Shevel was a founding shareholder of Centric Health, the predecessor entity to CareRx, and has been a director and significant shareholder of the Company since 2009. Dr. Shevel has previously served as President and Chief Executive Officer of the Company, and was Chairman of the Board from 2010 to 2018 before becoming Chairman Emeritus.

"Jack has made significant contributions to the Company over the past 13 years," said Kevin Dalton, Chairman of CareRx. "He was instrumental in driving the strategic direction of the Company over the first several years of his involvement and has contributed deep industry expertise throughout his tenure. On behalf of the Board of Directors, I want to thank Jack for his contributions to the Company and wish him the best of luck in his future endeavors."

Reflecting on his many years with CareRx, Dr. Shevel remarked, "After serving over 13 years on the Board of Directors, I feel this is the right time to retire. It has been a pleasure to have been part of this exceptional organization that continues to play an important role in healthcare delivery in Canada, and I am confident that management and the entire CareRx team will continue to execute on a long-term strategy that will create value for all stakeholders".

CareRx is Canada's leading provider of pharmacy services to seniors living communities. We serve over 95,000 residents in over 1,600 seniors and other congregate care communities (long-term care homes, retirement homes, assisted living facilities, and group homes). We are a national organization with a large network of pharmacy fulfillment centres strategically located across the country. This allows us to deliver medications in a timely and cost-effective manner and quickly respond to routine changes in medication management. We use best-in-class technology that automates the preparation and verification of multi-dose compliance packaging of medication, providing the highest levels of safety and adherence for individuals with complex medication regimes. We take an active role in working with our home operator partners to promote resident health, staff education, and medication system quality and efficiency.

SOURCE CareRx Corporation