Creative Computer Finishes Acquisition of PRX

Creative Computer Applications Inc., a Calabasas-based supplier of computer systems for medical testing laboratories, said it completed the acquisition of PRX Pharmacy Systems, which provides information systems and software support for pharmacies.

Creative Computer said it acquired PRX’s assets and assumed $500,000 in liabilities in exchange for about 90,000 shares of Creative Computer’s stock. At the company’s price of 87.5 cents a share, the shares in the exchange are valued at $78,750. In addition, Creative Computer said it issued 390,000 warrants to PRX shareholders, exercisable at $1.03 a share for three years.

PRX, a subsidiary of Western States Pharmacy Consultants Ltd., had revenue of more than $1 million in its latest fiscal year and is expected to break even or make a small profit this year. In its fiscal third quarter that ended May 31, Creative Computer earned $60,737 on revenue of $1.23 million.