The Paws Pet Co. Inc. is buying Mesa Pharmacy Inc. in an all-stock transaction.
Mesa provides topical pain medications and ointments that aim to provide pain relief.
Paws, headquartered in Delray Beach, Fla., in the process of transitioning from the pet space to the pharmaceutical space. The company plans to change its name to Praxyn Corp.
Previously, the two companies has decided to enter into a joint venture agreement, but then Paws decided an acquisition would be better for both parties and their shareholders, according to a company statement.