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TPG wraps up purchase of Envision Pharmaceutical.


5 November 2013 - US private equity firm TPG Capital LP has closed its acquisition of domestic Envision Pharmaceutical Holdings Inc, the target said on Tuesday.

Envision announced the deal in early July, without disclosing its financial terms.

Under the transaction, Envisiona[euro](tm)s founders James Mindala, Kevin Nagle, and Barry Katz, who are also chairman, CEO and president at the firm respectively, as well as other members of the senior management, are reinvesting in the business.

TPG planned to bankroll the purchase using debt financing.

Envision Pharmaceutical Holdings is the parent of pharmacy benefit management specialist Envision Pharmaceutical Services Inc, as well as Medicare plans insured provider Envision Insurance Company, prescription savings plans and prescription savings cards administrator Envision Medical Solutions Inc, mail-order and speciality drug pharmacy Orchard Pharmaceutical Services Inc and Design Rx, which specialises in pharmacy services for infertility and fertility.

TPG will back the continued growth of the acquired company, whose business model is seen toA keepA attracting clients, the buyout firm said.Country: USASector: Healthcare, Pharmaceuticals, Wholesale/RetailTarget: Envision Pharmaceutical Services Inc, Design Rx, Envision Insurance Company, Envision Medical Solutions Inc, Orchard Pharmaceutical Services Inc , Envision Pharmaceutical Holdings IncBuyer: TPG Capital LP , Other management, James Mindala, Barry Katz, Kevin NagleType: LBO, MBOFinancing: DebtStatus: Closed

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Publication:M & A Navigator
Date:Nov 5, 2013
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