Published 13 May 2011
Pharmacybrands Ltd entered into an agreement with Radius Health Group Ltd on Wednesday for the acquisition of Radius Medical Ltd & Radius Medical Solutions Ltd. Radius Medical has equity interests in 6 medical centres and Radius Medical Solutions provides back-office services to these medical centres as well as to medical centres outside the group. Pharmacybrands chief executive Alan Wham said the company would use bank debt to fund the $3.2 million purchase, which is subject to net asset & other adjustments and conditional on completing financial arrangements. Settlement is scheduled for the first week in June.
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Attribution: Company release, story written by Bob Dey for the Bob Dey Property Report.