12 May 2011

Pharmacybrands to buy medical centres

6:12 am on 12 May 2011

Pharmacybrands plans to expand, by buying a medical centre operation for $3.2 million.

The listed pharmacy group intends buying six medical centres and back-office services of Radius Health Group.

Chief executive Alan Wham says the proposed acquisiton will help Pharmacybrands improve its patient care by establishing a closer relationship between medical and pharmacy practitioners.

The proposed deal will be funded by bank debt.

If financing is successfully secured, the settlement is expected to be completed by early next month.