Loblaw Companies has announced the sale of its 42 Wellwise by Shoppers stores to Verillium Health Care, a Toronto-based investment firm specializing in healthcare services. The strategic decision reflects Loblaw’s ongoing focus on its pharmacy business, including its extensive Shoppers Drug Mart network. The deal, announced Tuesday, will transfer the Wellwise brand to Verillium, which aims to expand its offerings in the active living and healthcare retail space.
Wellwise by Shoppers: A Growing Brand Since 2017
Loblaw launched Wellwise by Shoppers in 2017 as a pilot project, aiming to serve the growing needs of aging Canadians. Unlike traditional medical supply stores, Wellwise introduced a more inviting retail environment with brighter lighting, colourful signage, and an emphasis on categories like “active living” and “mobility.” Retail Insider first reported on Wellwise in September of 2017 when it launched.
The Wellwise concept was a rebranding effort that evolved from Loblaw’s earlier Home Health Care chain. While the Home Health Care stores focused on clinical needs, Wellwise provided a wider variety of products, such as aromatherapy oils, light exercise weights, puzzles, and games. This shift was designed to align with the lifestyles of active seniors who sought to maintain their independence.
A Strategic Move for Loblaw
Loblaw’s decision to sell the Wellwise brand aligns with its broader strategy to refine its focus within the healthcare sector. In recent years, Loblaw has made significant investments to expand its health-related businesses, including:
- Telemedicine: In 2020, Loblaw acquired a minority stake in Maple Corp., a Toronto-based telemedicine provider, for $75 million.
- Physiotherapy and Wellness Services: In 2022, Loblaw acquired Lifemark Health Group for $845 million. Lifemark operates over 300 clinics offering services such as physiotherapy, massage therapy, and mental health support.
The sale of Wellwise follows other divestitures in Loblaw’s healthcare portfolio. These include the 2022 sale of two Beauty Clinic locations and the transfer of 10 Health Clinic by Shoppers family-care practice locations to Well Health Clinic Network Inc.
Verillium Health Care: A New Era for Wellwise
Verillium Health Care, a private investment firm based in Toronto, specializes in acquiring and operating healthcare businesses across North America. Its portfolio includes pharmacies, senior care facilities, diagnostic imaging centres, and medical supply businesses.
Verillium targets acquisitions between $2 million and $10 million, with companies earning a minimum of $450,000 in EBITDA. The terms of the Wellwise deal were not disclosed, but the transaction is expected to close in early 2025. Until then, Shoppers Drug Mart will continue operating the stores.
Wellwise’s Impact on Aging Canadians
The Wellwise model has resonated with a growing demographic of active seniors seeking products and services that support healthy lifestyles.
With categories like mobility aids, wound care, and incontinence products reimagined for a more consumer-friendly experience, Wellwise carved out a niche in the healthcare retail market.
Loblaw’s Commitment to Pharmacy Growth
Loblaw remains Canada’s leading pharmacy retailer, with more than 1,350 Shoppers Drug Mart locations across the country. By divesting Wellwise, the company is doubling down on its pharmacy operations and related services. This includes enhancing its health ecosystem through investments in telemedicine and clinical wellness services, reflecting a strategic pivot towards healthcare innovation.
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