News

QHR takeover by Loblaw finalized, B.C. tech firm's stock to be delisted

TORONTO – Trading of shares in QHR Corp. (TSXV:QHR), a Kelowna, B.C.-based medical records company that’s becoming a subsidiary of Loblaw’s Shoppers Drug Mart business, end Thursday.

The grocery and pharmacy giant acquired the small technology company for $170 million cash, or $3.10 per share.

That was 22 per cent above QHR’s stock price prior to the announcement on Aug. 22. QHR shares closed Wednesday at $3.09 on the TSX Venture Exchange.

Loblaw (TSX:L) said QHR will be delisted after Thursday’s trading day.

QHR currently supports 7,700 healthcare providers with a suite of secure medical records technology.