June 1 (SeeNews) - Slovenian pharmaceutical products wholesaler Salus [LJE:SALR] has completed the acquisition of the entire capital of local medical equipment wholesaler Meditrade, Salus said.
The transaction was approved by Slovenia's competition watchdog and Salus paid 7.16 million euro ($7.64 million) in purchase price, Salus said in a filing with the Ljubljana Stock Exchange on Wednesday.
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The agreement also provides for an additional payment of 810,000 euro in three equal annual amounts in 2024-2026, which is tied to the fulfillment of certain conditions related to the Meditrade's operations, Salus said.
The acquisition of Meditrade is consistent with the development strategy of Salus, with which the company aims to consolidate its role as one of the vital members in the supply of products and services in the field of healthcare in South-Eastern Europe, the pharmaceutical products wholesaler added.
Salus signed the agreement for the purchase of Meditrade in January. According to data from Slovenia's business register, the entire capital of Meditrade was owned by Slovenian citizen Andrej Mocan.
($ = 0.9366 euro)