AmerisourceBergen Corporation (ABC) Completes $308 Million Divestiture of AndersonBrecon
5/13/2013 7:36:35 AM
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AmerisourceBergen Completes Divestiture of AndersonBrecon
SEATTLE and PHILADELPHIA, May 13, 2013 /PRNewswire/ -- Frazier Healthcare and Packaging Coordinators, Inc. today announced that they have completed the acquisition of pharmaceutical packager AndersonBrecon from its parent company AmerisourceBergen Corporation. AndersonBrecon will now merge with and operate as Packaging Coordinators, Inc. ("PCI").
"We are extremely excited to bring the experience of the AndersonBrecon team to propel our national presence and establish a European footprint for PCI," said Bill Mitchell, PCI President and Chief Executive Officer. "PCI has been on an aggressive growth track in the last year, focused on providing customers with quality resources and packaging solutions. We will now have a combined operating space of approximately two million square feet, more than 140 commercial and clinical packaging suites, and operations in both the US and UK with over 2,000 associates. Combined, we will now package product for 19 of the top 20 global pharmaceutical/biotechnology companies."
Frazier Healthcare, founded in 1991 to invest exclusively in healthcare, is a leading provider of growth equity and venture capital to high growth and emerging healthcare companies. They are joined in this transaction by QIC Global Private Equity, Greenspring Associates and Thomas, McNearney & Partners.
"We are extremely pleased to complete this transaction and look forward to providing industry leading quality and service under the leadership of Bill Mitchell and a terrific combined management team." said Nathan Every, Frazier Healthcare General Partner and PCI Board Member.
About Packaging Coordinators, Inc.
Packaging Coordinators, Inc. offers unparalleled expertise in a range of proprietary pharmaceutical and biotechnology packaging innovations for healthcare clients across all markets. PCI leads the field in providing cutting-edge customized healthcare packaging solutions that improve patient adherence and uphold the most stringent safety requirements. For more information about PCI and its state of the art facilities in Philadelphia, PA and Woodstock, IL, visit the company's website at www.pciservices.com.
About Frazier Healthcare
Founded in 1991, Frazier Healthcare is a leading provider of growth equity and venture capital to high growth and emerging healthcare service and biopharma companies. With over $1.8 billion under management across seven funds, Frazier Healthcare has invested in more than 140 companies across the entire developmental spectrum. From seed stage venture investments to leveraged recapitalizations of cash generating companies, Frazier Healthcare has established itself among entrepreneurs and seasoned executives as a preferred partner to help create and grow successful healthcare companies. For more information about Frazier Healthcare, visit the company's website at www.frazierhealthcare.com.
About Greenspring Associates
Established in 2000 as a global venture capital firm, Greenspring Associates currently manages both a dedicated late stage direct investment platform as well as a globally diversified fund-of-funds platform. Since inception, the Firm has invested in over 55 portfolio companies alongside of its leading venture capital and growth equity managers both in the United States and Europe. Through the Firm's value-added investment approach, it primarily invests across the information technology and communications stack, as well as healthcare and energy-related technologies. The Firm currently manages over $2.2 billion in committed capital for a diverse group of pension plans, insurance companies, foundations, endowments and family offices in North America, Europe, Middle East, Australia and Asia.
About QIC Private Equity
QIC Global Private Equity (QIC GPE) is a business unit of QIC Limited (QIC) and acts as an in-house private equity team, managing over $3 billion for institutional investors including superannuation, pension and sovereign wealth funds. Operating with a strong principal investment mindset and uncompromising fiduciary standards, QIC GPE develops, implements and adapts private equity solutions that seek to deliver higher performance over time. Located in Brisbane, Sydney, San Francisco and Copenhagen the team is comprised of twelve investment professionals plus extensive support staff. QIC is one of the largest institutional investment managers in Australia, with $69.3 billion* in funds under management. More info www.qic.com.*as at 31 December 2012.
About Thomas, McNerney & Partners
Thomas, McNerney & Partners is a health care venture firm with approximately $600 million under management, focused on investing in innovative life science and medical technology companies at all stages of development. In addition to helping entrepreneurs launch companies with seed and early stage funding, the firm provides growth capital to emerging companies to advance clinical development or for product commercialization. Thomas, McNerney & Partners also is involved in spinning out products and divisions from major medical device and pharmaceutical companies, consolidating companies through roll-up strategies and participating in structured financings for public companies, as well as recapitalizations. The firm has offices in Connecticut, Minnesota and California. For further information, please visit www.tm-partners.com.
ARC2 Communications & Media, Inc.
Frazier Healthcare Contact:
Bridget D. Rauvola
Investor Relations & Marketing Partner
SOURCE Packaging Coordinators, Inc.
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