CareRx Corporation Announces Appointment of Chief Financial Officer

TORONTO, Sept. 5, 2024 /CNW/ - CareRx Corporation ("CareRx" or "the Company") (TSX: CRRX) today announced that following an extensive executive search process, Suzanne Brand will be joining the Company in the role of Chief Financial Officer effective October 1, 2024.

Ms. Brand is a highly accomplished executive, bringing a wealth of financial, healthcare and leadership experience. She joins CareRx from Teva Pharmaceuticals, a leading global manufacturer of quality generic and innovative pharmaceuticals, where she has held several senior finance roles since 2011, most recently serving as CFO of Teva Canada. Prior to joining Teva, Ms. Brand spent twelve years in finance at Wyeth Pharmaceuticals, a Pfizer company, where she held senior roles including as a Director, Commercial and Corporate Finance. She began her career as an auditor at PriceWaterhouseCoopers (PwC). Ms. Brand is a Chartered Professional Accountant (CPA) and Chartered Accountant (CA) and holds a Bachelor of Science degree in Biology and Business from the University of Toronto.

"We are delighted to welcome Suzanne to CareRx's Executive Team," said Puneet Khanna, President and Chief Executive Officer of CareRx. "Suzanne's depth of healthcare experience and exceptional leadership skills make her an invaluable addition to the CareRx team. I am confident that she will play an outsized role in executing our strategic direction and growth initiatives in the years to come." Mr. Khanna continued, "I would also like to thank Davide Pernarella for his leadership in serving as the Interim Chief Financial Officer over the past few months and for helping to oversee the transition of the CFO role to Suzanne."

About CareRx Corporation

CareRx is Canada's leading provider of pharmacy services to seniors living communities. We serve approximately 90,000 residents in approximately 1,450 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.

Forward-Looking Statements

This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. These forward-looking statements include, among others, statements regarding the Company's business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate" or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management.

Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Factors that could cause such differences include the Company's general business risks, the Company's exposure to and reliance on government regulation and funding, risks related to employee recruitment and retention, the Company's liquidity and capital requirements, exposure to epidemic or pandemic outbreak, reliance on contracts with key care operators and other risk factors described from time to time in the reports and disclosure documents filed by the Company with Canadian securities regulatory agencies and commissions. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such future results, levels of activity or achievements and neither the Company nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. The factors underlying current expectations are dynamic and subject to change.

SOURCE CareRX Corporation

For more information, visit www.carerx.ca or contact: Puneet Khanna, President & Chief Executive Officer, CareRx Corporation, [phone]; Davide Pernarella, Interim Chief Financial Officer, CareRx Corporation, [phone]; Neil Weber, Investor Relations, LodeRock Advisors, [phone], [email protected], www.loderockadvisors.com