Piramal Healthcare, formerly known as Nicholas Piramal, has acquired outstanding capital stock of US-based RxElite Holdings for $4.2 million.
This acquisition gives Piramal ownership of RxElite Holdings' sales and distribution network in the US and complements Piramal's pending acquisition of inhalation anesthetic gas manufacturer Minrad International in December 2008, the company said in a statement.
RxElite Holdings is a subsidiary and inhalation anesthetic gas distribution arm of US-based RxElite Inc. It would use $4.2 million to retire a portion of its long-term debt, the company said.
The acquired company's customers include hospitals, wholesalers, surgery centres and clinics.