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Centric Health buys assets of Dedicated National from court-appointed receiver

Wed, 12/22/2010 - 3:45am
The Associated Press

Centric Health Corp. (TSX:CHH) says it has reached an agreement to buy certain assets of a series of bankrupt pharma companies for an undisclosed amount.

The Toronto-based diversified medical care firm said it would purchase unspecified assets from related companies Dedicated National Pharmacies Inc., Methadrug Clinic Limited and Union Medical Pharmacy Inc.

Centric Health said the terms of the agreement would be kept confidential pending the close.

The transaction still requires the receiver to obtain an order from the Ontario Superior Court approving the purchase, and a motion is scheduled for Jan. 12.

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