CareRx (CRRX), a provider of specialty pharmacy services to senior communities, has extended its partnership with Think Research Corporation (THNK) to provide virtual health care to residents of Chartwell Retirement Residences (CSH.UN). The pilot project, which started at selected Chartwell residences in March, has been successful.
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As part of the expanded partnership, Think’s telemedicine software will be available in Chartwell branches in Ontario, British Columbia and Alberta. It will provide seniors secure access to a network of leading doctors and specialists from the comfort of their own homes. The program will begin in September, and continue through early 2022.
CareRx president and CEO David Murphy said, “We look forward to continuing our work with both Think and Chartwell, providing Chartwell’s residents with the option of a face-to-face physicians’ appointment in a timely and effective manner, and quick and easy access to their prescription medications, all from the convenience of their residence.”
Think CEO Sachin Aggarwal believes that this partnership will help both all involved achieve their collective goal, which is to improve access to care and better health outcomes. (See CareRx stock charts on TipRanks)
He added that the partnership reduces the risk of the virus spreading within retirement communities by limiting in-person interactions.
Consensus on CRRX among Wall Street analysts is a Moderate Buy, based on two Buys. The average CareRx price target of C$8 implies 34.5% upside potential to current levels.
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