QualityStocksNewsBreaks – ProPhase Labs Inc. (NASDAQ: PRPH) Closes $23.6M Sale to Focus on Core Businesses
ProPhase (NASDAQ: PRPH), a next-generation biotech, genomics, and diagnostics company, earlier this year announced the closing of the sale of its wholly owned subsidiaries, Pharmaloz Manufacturing Inc. and Pharmaloz Real Estate Holdings Inc. (collectively “Pharmaloz” or “PMI”), to a private equity group based in Houston, Texas. The transaction’s aggregate deal was valued at approximately $23.6 million, which immediately bolstered ProPhase’s balance sheet and liquidity by eliminating over $20 million in debt, payables, and other contingent liabilities. Overall, the transaction better positioned ProPhase to focus on its promising and high-value core businesses. To view the full press release, visit https://ibn.fm/ardt7 About…
