Venezuela’s Pet Pharmacy has gone bankrupt after it was bought by a US company for more than $10m.
The Pet Pharmacies of Venezuela and Petronas Petroleos Venezuela were bought by US company Accredo Pharmacy for nearly $10 million, the president of Venezuela’s largest pharmacy, José Angel Gómez, told reporters on Tuesday.
Accredo will take over the Pet Pharmies of Venezuela from Venezuela’s state-owned Petroleo Trabajo, the Venezuelan Health Ministry said in a statement.
Gómey said the new owners will be able to continue their work and will improve the service.
Accredo said in its statement that the company has the necessary financial and legal backing to make the purchase.
The deal was announced after a company called Petronavis SA bought the Petropavis Petroleozas (Petropavision) pharmacy from the country’s government-owned company for $10.3m in February.
Accrenas said the purchase of the Petroleós pharmacy was in line with the agreement made between the two parties in 2015, when the Petrololine Group bought Petropaxi for $6.2m.
In July, the government of Venezuela privatised all private hospitals, and many of them were closed down or re-opened as part of a plan to ease shortages.