Parallax Health Sciences, Inc. (OTCPK:PRLX) entered into an agreement to acquire RoxSan Pharmacy, Inc. from Shahla Melamed for $20.5 million on August 13, 2015. In exchange for 100% of RoxSan's common stock, and its assets and inventory, Parallax issued a secured promissory note of $20.5 million. The Note bears interest at a rate of 6% per annum, and matures in three years. In 2014, RoxSan had unaudited gross revenues in excess of $40 million, and EBITDA of approximately $10 million.

Shahla Melamed resigned her position as sole officer and Director of RoxSan. Michael Redmond was appointed as President of RoxSan and Calli Bucci was appointed as Secretary of RoxSan. Michael Redmond and Calli Bucci were also appointed as members of the Board of Directors, with Michael Redmond serving as Chairman. The transaction is subject to completion of due diligence by Parallax, minimum balance sheet requirements, execution of an employment agreement with Shahla Melamed and shares of Parallax common stock remaining quoted on the OTC Quotation Board.

Parallax Health Sciences, Inc. (OTCPK:PRLX) completed the acquisition of RoxSan Pharmacy, Inc. from Shahla Melamed on August 13, 2015.