PharmaCorp Closes Two Previously Announced Acquisitions and Provides Acquisition Pipeline Update

PharmaCorp Rx Inc. completed the acquisition of a PharmaChoice Canada-bannered pharmacy in Western Canada for $1.3 million and acquired prescription files from an I.D.A.-bannered pharmacy for $475,000, bringing its total store count to 17 pharmacies. The company also increased its credit facility with Canadian Imperial Bank of Commerce from $17.5 million to $27.5 million and has a non-binding letter of intent to acquire three additional PharmaChoice Canada-bannered pharmacies in Atlantic Canada.