Private equity firm Partners Group has agreed to acquire Pharmathen from an international investment firm BC Partners in a deal valued about $1.88bn (€1.6bn).
Private pharma company, Pharmathen is specialised in advanced drug delivery technologies for complex generic pharmaceutical products and the development of “sustained release” technologies, which help to improve patient compliance including injectables, oral medicines and ophthalmics.
The company’s diversified product portfolio of c. 80 commercialised products is accessed by patients in over 85 countries across the world.
Subject to customary regulatory approvals, the acquisition is anticipated to be concluded this year.
Upon completion of the deal, Partners Group will work with Pharmathen on initiatives to expand its business in Europe and to accelerate its expansion in the US.
The company will also utilise its deep sector expertise in healthcare and pharmaceuticals to develop innovative technology platforms which help to improve patient compliance.
Pharmathen CEO Dimitris Kadis said: “The investment, support and guidance of BC Partners has enabled them to be extremely instrumental in taking the Company to the next level as a global leader in drug development and delivery.
“With the support of Partners Group’s global platform, we are looking forward to building a drug development powerhouse that is a trusted partner to blue-chip clients worldwide and makes a positive impact on the lives of people, by ensuring they enjoy better health.”
On behalf of its clients, Partners group has invested over $5bn in Health & Life companies since the beginning.
The company’s recent investments include Confluent Health, EyeCare Partners, Wedgewood Pharmacy and PCI Pharma Services.