Parallax buys pharmacy services firm

|About: Parallax Health Scienc... (PRLX)|By:, SA News Editor

Parallax Health Sciences (PRLX +45.5%) acquires T.H.E. Pharmacy for $20M plus a 9.9% stake in PRLX. The transaction includes the payment of $15M in cash and a $5M promissory note.

T.H.E. Pharmacy generated $55M in revenues and $16M in EBIT in 2013.