AmerisourceBergen acquires PharMEDium Healthcare Holdings
VALLEY FORGE, Pa. - AmerisourceBergen on Tuesday announced that it has signed a definitive agreement to purchase PharMEDium Healthcare Holdings, the privately held leading national provider of outsourced compounded sterile preparations to acute care hospitals in the United States, from Clayton, Dubilier & Rice for $2.6 billion in cash.
“The acquisition of PharMEDium strengthens our core business and meaningfully expands our innovative service offerings for health systems,” stated Steven Collis, AmerisourceBergen president and CEO. “PharMEDium’s impressive track record of growth and proven ability to consistently deliver high quality CSPs in key therapeutic areas make them the undisputed leader in an important growth area of the U.S. healthcare market. PharMEDium is a compelling addition to our business, which allows us to provide differentiated offerings and further increases our ability to drive both value and efficiency for our health systems customers in a way that enhances patient safety and helps improve patient outcomes.”
PharMEDium is a provider of customized outsourced CSPs that meet specific hospital and physician clinical needs and quality standards in formulations that are not otherwise commercially available. PharMEDium will become a part of AmerisourceBergen Drug Corporation.
PharMEDium delivers “sterile to sterile” CSPs in a ready to use form with enhanced safety, labeling, sterility assurance and extended expiration dating supported by appropriate studies that often exceeds what hospital pharmacies can accomplish on their own. PharMEDium maintains four compounding facilities, provides a broad range of 2,000 SKUs and serves over 3,000 hospital customers across all 50 states.
Morgan Stanley acted as financial advisor, and Cravath, Swaine & Moore provided legal counsel to AmerisourceBergen. J.P. Morgan Securities and Credit Suisse acted as financial advisors, and Debevoise & Plimpton and K&L Gates provided legal counsel to PharMEDium.