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LONGUEUIL, Quebec — The Jean Coutu Group recently announced that it is acquiring a 50% stake in Le Groupe Médicus, which specializes in orthotic and prosthetic devices.
Financial terms of the deal were not disclosed.
Founded in 1957 by Jean-Claude Bleau, Médicus is a private-sector employer of orthotist and prosthetist graduates in Quebec and specializes in orthotic and prosthetic devices and rehabilitation products by completing the multidisciplinary treatment plan.
“The investment in Médicus fits with our development strategy and is an interesting expansion of our core business. Médicus enjoys an excellent reputation and presents a significant growth potential. This corporation is headed by an experienced management team, and we plan to support them in the pursuit of their strategic development plan,” stated François Coutu, president and CEO of the Jean Coutu Group.
Jacinte Bleau, president and CEO of Médicus, stated, “We are aware of the growing needs of an aging customer base in Quebec; and Médicus, in partnership with the Jean Coutu Group, wishes to extend its market share in orthotic and prosthetic devices, as well as in mobility assistance throughout Quebec and eventually North America.”
Following this transaction, Médicus will carry on its operations throughout its network of stores and will maintain an independent management team, the retailer stated