July 15, 1996
The Hospital for Sick Children opens a Shoppers Drug Mart Prescription Centre
TORONTO - The need to provide strong financial support to research, education and health care initiatives not funded by the provincial government is behind an innovative partnership that links one of Canada's most respected hospitals with one of the country's most successful retailers.
Toronto's renowned Hospital for Sick Children has opened a Shoppers Drug Mart Prescription Centre within its facilities today that is both owned and operated by the hospital. As far as the hospital and Shoppers Drug Mart know, this is the first such arrangement of its kind in Canada.
"This alliance will allow us to offer patients, families and our staff products we currently don't have access to, and will enable us to take advantage of Shoppers Drug Mart's operational and marketing efficiencies," says Michael J. Strofolino, president and chief executive officer of The Hospital for Sick Children.
"At the same time, this allows us to generate additional net revenue to compensate, at least in part, for funding cutbacks. We must search for new ways to bring in revenue, and are confident this addition to our organization will have many benefits."
A traditional Shoppers Drug Mart store is owned and operated by an individual pharmacist who, as an entrepreneur, manages every aspect of the store and participates in the profits. As the new store's owner, The Hospital for Sick Children will be the first non-human entity to own a Shoppers Drug Mart and will be responsible for appointing a pharmacy manager and other staff.
"We couldn't be more delighted with the arrangement," said David R. Bloom, chairman and chief executive officer of Shoppers Drug Mart. "The Shoppers Drug Mart Prescription Centre will serve the SickKids community while contributing to its financial health. We see this as the wave of the future."
In addition to prescription drugs, the new store will supply over-the-counter medications, confectionery, and convenience items such as film, health and beauty aids including Life Brand and Rialto Naturals products, which are exclusive to Shoppers Drug Mart.
The Shoppers Drug Mart Prescription Centre will be open Monday through Friday from 8 a.m. to 6 p.m. and Saturday from 9 a.m. to 4:30 p.m. All store staff will wear Shoppers Drug Mart uniforms and be trained by the company's head office.
With retail pharmacies in every province and sales approaching $4 billion, Shoppers Drug Mart is Canada's leading drugstore chain.
For more than a century, The Hospital for Sick Children has made landmark contributions to the health and well being of children around the world through the provision of scientific knowledge, medical teaching and patient care.For more information, please contact:
The Hospital for Sick Children
555 University Avenue
Suite 1742, Public Affairs, First floor Atrium