Paragon Pharmacies Limited

Paragon Pharmacies Limited

December 17, 2007 18:56 ET

Paragon Announces Completion of Westcoast Central Fill Ltd. Acquisition

KELOWNA, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2007) - Paragon Pharmacies Limited ("Paragon") (TSX VENTURE:PGN) is pleased to announce that it has completed the previously announced purchase and sale of all of the assets of Westcoast Central Fill Ltd. ("Westcoast") from Westcoast and its parent, Catalyst Healthcare Ltd. ("Catalyst") consisting of the equipment, inventory, material contracts and goodwill required to carry on the current business of Westcoast.

Westcoast is located in Kelowna, British Columbia and carries on the business of providing pharmacy services to assisted living and long-term care residents in Kelowna and Richmond, British Columbia. Westcoast operates under the trading names Okanagan Central Fill, West Coast Central Fill and Westcoast Central Fill.

"Paragon is pleased to expand its business in the growing assisted living and long-term care business" said Craig Cameron, President & CEO of Paragon. "The acquisition of Westcoast demonstrates our commitment to our accretive growth strategy."

As a result of the completion of the acquisition, Paragon is now the owner and operator or 18.5 retail pharmacies, 2 central fill pharmacies and 2 home healthcare stores in British Columbia, Alberta and Manitoba.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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