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Classified in: Health
Subject: PER

CareRx Announces Board Chair Transition and Voting Results from Annual and Special Meeting of Shareholders


TORONTO, May 29, 2024 /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 as part of the Company's commitment to Board refreshment and to realign Board functions to match the Company's strategic focus on operational performance, Kevin Dalton, Chairman of the Board for the last six years, will be retiring as Chairman effectively immediately. Mr. Dalton will be succeeded by Jeff Watson, a current independent director of the Board. Mr. Dalton will be stepping into the role as Chair of the Compensation, Nominating and Governance Committee in place of Maria Perrella, who will continue to remain Chair of the Audit Committee.

Mr. Watson said, "We would like to express our deep appreciation to Kevin for his outstanding contributions to CareRx during his tenure as Chairman, and his exceptional stewardship during these recent years of growth and transformation. We look forward to continuing to receive his guidance and support as a fellow Board member. With the Company's performance culture and focus on operational excellence, we are excited for the next chapter."

Mr. Dalton said, "Serving as CareRx's Chairman has been an honour. We have an enthusiastic management team with fresh leadership under Puneet Khanna, and with Jeff transitioning to Chairman I am confident that this team will continue to execute on the Company's strategic vision and plans. I look forward to continuing to work with management and my fellow Board members to enhance value for all of our shareholders."

Mr. Watson has served on the Board of CareRx since 2023 and brings over three decades of experience in the healthcare industry, having most recently served as the President and CEO of Apotex from 2018 to 2023. Mr. Watson currently represents SK Capital Partners on two of their portfolio company boards for Apotex and Woodstock Sterile Solutions, and has previously served on numerous other boards, including as a board member and Chair of the Association for Accessible Medicines (AAM), Chair of the Canadian Generic Pharmaceutical Association (CGPA), and former Chair of the US Healthcare Distribution Alliance's (HDA) knowledge partner, the HDA Research Foundation.

The Company also announced that the nominees listed in the Management Information Circular for the Annual General Meeting of Shareholders (the "Meeting"), which was held on May 29, 2024, were elected as directors of the Company. In addition, all other resolutions put to vote at the Meeting were passed.

The results of the vote for the election of directors at the Meeting are as follows:

Nominees

Votes For

Kevin Dalton

34,798,054 (99.136 %)

Ralph Desando

34,626,285 (98.647 %)

Puneet Khanna

34,817,837 (99.193 %)

Keith McIntosh

34,679,144 (98.797 %)

Bruce Moody

34,653,016 (98.723 %)

Maria Perrella

34,832,002 (99.233 %)

Jeff Watson

35,002,450 (99.719 %)

About CareRx Corporation

CareRx is Canada's leading provider of pharmacy services to seniors living communities. We serve approximately 91,000 residents in over 1,500 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 regimens. 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


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