Kelowna-based Paragon Pharmacies Ltd. (TSX-V:PGN) has acquired Winnipeg, Manitoba's Alentex Pharmacy for $7.5 million in cash.
Alentex provides pharmaceutical services to assisted living and long-term care homes in the Winnipeg area. Alentex principal Doug Penner will join Paragon as director of institutional pharmacy for the Manitoba region.
Paragon has been on an acquisition spree over the last few months. In November, it acquired Teulon, Manitoba's Duncan Pharmacy for $3.4 million. A month later, it acquired Kelowna's Westcoast Central Fill Ltd. in a $5.7 million deal.
Paragon employs more than 500 full- and part-time staff in its 24 locations in B.C., Alberta and Manitoba.
Paragon's share price range during the past week: between $0.65 and $0.70; 52-week high: $1; 52-week low: $0.42.