Piramal Health acquires RxElite Holdings

Piramal Healthcare Ltd has acquired the entire issued outstanding capital of RxElite Holdings Inc, the wholly owned subsidiary and the inhalation anesthetic gas distribution arm of RxElite Inc for cash consideration of $4.2 million.

By ET Bureau | Jan 28, 2009, 12.10 PM IST

MUMBAI: Piramal Healthcare Ltd has acquired the entire issued outstanding capital of RxElite Holdings Inc, the wholly owned subsidiary and the inhalation anesthetic gas distribution arm of RxElite Inc for cash consideration of $4.2 million.

In addition, RxElite Holdings retained around $3.2 million of outstanding indebtedness. A significant portion of the net proceeds from the sale will be used by RxElite Inc to retire a portion of its long term debt.

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