TPG Considers Acquiring Envision Pharmaceutical

Texas-based private-equity firm TPG Capital is said to be considering signing an agreement to acquire Envision Pharmaceutical Holdings, an Ohio-based pharmacy-benefits manager (PBM), for an undisclosed sum.

Sources familiar with the potential deal were quoted by Bloomberg as saying that the purchase was yet to be finalized and that a decision would be taken as soon as on 8 July 2013.

Declining to disclose the financial terms of the acquisition, the sources further told the news agency that the acquired business will be operated by founders James Mindala, Kevin Nagle and Barry Katz.

Additionally, a minority stake in the company is likely to be held by the members of Envision’s management.

Envision was founded in 2001 and reported annual revenue of over $3.5bn. TPG had in the past bought generic drugs-maker Par Pharmaceutical for $1.9bn.

Involved with processing prescription-drug claims for health-plan customers, PBMs assist and help them by discussing discounts and rebates with drugmakers.

In 2012, US-based Express Scripts Holding purchased Medco Health Solutions for $29.1bn, followed by Catalyst Health Solutions’ take over by SXC Health Solutions for $4.4bn.

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