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Pharmed granted approval of $15.6 million PAL Laboratories sale
By Caroline Salls
Pittsburgh, Dec. 21 - Pharmed Group Holdings, Inc. obtained court approval of the $15.6 million sale of its PAL Laboratories, Inc. subsidiary to PLD Acquisitions LLC, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of Florida.
In addition to the cash purchase price, PLD has agreed to assume $2.66 million in related liabilities.
Pharmed, a Miami-based full-line distributor of medical, surgical and rehabilitative supplies, filed for bankruptcy on Oct. 26. Its Chapter 11 case number is 07-19187.
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