Most of the pharmacies in our network have been in business for decades. They are generally located in the smaller towns and cities in Western Canada, and customer care has always been their number one priority.
Over the past few years, many changes have occurred in the drug store sector. The number of independent pharmacies has decreased, mostly due to acquisitions by large chains. Big-box retailers, grocery stores, and mass merchandisers have increased their market share.
Across the market, we're seeing a shortage of available pharmacists, with more retiring than starting careers.
However, consumer demand for pharmacy services is growing, as people are living longer and taking more prescription drugs. New and costlier medications are becoming available, and product lines relating to fitness, diet and assisted living are expanding.
As these changes occur, Rubicon is bringing competitive advantages to our managing partners and attractive returns on investment. At a time when independent drugstores are disappearing, Rubicon is providing an alternative route for pharmacies, allowing them to own their own future.
