ST. LOUIS and NEW YORK, Nov. 27,
2017 /PRNewswire/ -- Express Scripts (NASDAQ: ESRX) and
Avista Capital Partners, a leading private equity firm, announced
today that Avista has signed a definitive agreement to acquire
United BioSource (UBC), a wholly-owned subsidiary of Express
Scripts Holding Company.
Founded in 2003 and headquartered in Blue Bell, Pennsylvania, UBC is a leading
provider of pharmaceutical and patient support services, partnering
with life science companies to make medicine and medical products
safer and more accessible. The company has 13 locations in the
U.S., Europe, and Canada. A core strength of UBC is generating,
analyzing, and communicating real-world evidence throughout a
medical product's lifecycle.
Patrick Lindsay, UBC president,
said, "Our team of clinical and commercial experts understands the
many facets of drug development, market access, and safety.
Avista's commitment to the healthcare industry makes them the ideal
partner as we continue to improve patient care. Together, we will
provide our clients, their patients, and their prescribers with
innovative services that meet the demands of a dynamic
industry."
Rob Girardi, Partner of Avista
Capital Partners, said, "UBC is a best-in-class pharmaceutical
services provider whose service offerings are in increasing demand
throughout the industry. We are excited to partner with UBC at this
moment in the company's growth cycle, and look forward to
leveraging both Avista's and UBC's expertise in the healthcare
sector to deliver on the significant opportunities ahead."
Charles Harwood, Healthcare
Industry Executive at Avista, said, "UBC has contributed unique
capabilities and insights to the biopharmaceuticals industry, which
have enabled countless pharmaceutical companies to accelerate
approvals of their therapies, expand access to patients in need,
and help ensure medications are safe to use. Avista is proud to
work with the UBC team to advance and expand the company's services
and help it realize its full growth potential."
Centerview Partners LLC acted as financial advisor and Bryan
Cave LLP acted as legal counsel to Express Scripts. Ropes &
Gray LLP acted as legal counsel to Avista.
About United BioSource
United BioSource (UBC)
leads the market in providing integrated, comprehensive clinical,
safety, and commercialization services. UBC brings together
renowned scientific research and operations experts with
leading-edge technologies, allowing for the best patient and
healthcare provider experience. Comprehensive, end-to-end
services cover product and patient population characterization
during development and market entry, as well as a focus on the
patient experience, safety, and adherence.
About Avista Capital Partners
Headquartered in
New York, Avista Capital Partners
is a leading private equity firm with approximately $5 billion under management. Founded in 2005,
Avista makes middle market control buyout investments in the
healthcare sector. Through its team of seasoned investment
professionals and industry experts, Avista seeks to partner with
exceptional management teams to invest in and add value to
well-positioned businesses. (www.avistacap.com).
About Express Scripts
Express Scripts puts medicine
within reach of tens of millions of people by aligning with plan
sponsors, taking bold action and delivering patient-centered care
to make better health more affordable and accessible.
Headquartered in St. Louis,
Express Scripts provides integrated pharmacy benefit management
services, including network-pharmacy claims processing home
delivery pharmacy care, specialty pharmacy care, specialty benefit
management, benefit-design consultation, drug utilization review,
formulary management, and medical and drug data analysis
services. Express Scripts also distributes a full range of
biopharmaceutical products and provides extensive cost-management
and patient-care services.
Media Contacts:
Express Scripts:
Phil Blando
202-383-7982
PJBlando@express-scripts.com
Christine Portell
314-409-7990
CPortell@express-scripts.com
Avista Capital Partners:
Daniel Yunger and Kathleen Pierre
Kekst
Daniel.Yunger@kekst.com / Kathleen.Pierre@kekst.com
212-521-4800
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SOURCE Express Scripts