Clayton, Dubilier & Rice (“CD&R”) today announced the close of an investment in PharMEDium Healthcare Corporation (“PharMEDium” or the “Company”), the leading national provider of hospital pharmacy-outsourced sterile compounding services. Terms of the transaction were not disclosed.
PharMEDium’s outsourced sterile compounding services are used by hospitals primarily to facilitate ready-to-use intravenous drug therapy to patients; it is one of the first companies to voluntarily register with the U.S. Food and Drug Administration’s (FDA) as an Outsourcing Facility and to comply with guidelines under the newly created section 503B of the Drug Quality and Security Act. Using only FDA-approved drugs, diluents and containers, the Company creates compounded sterile preparations (“CSPs”), which are not otherwise commercially available in the marketplace. PharMEDium provides CSPs in ready-to-use presentation with enhanced safety, labeling, sterility and shelf life, typically exceeding what hospital pharmacies can produce themselves. The Company’s CSPs are primarily used in: (i) intravenous pain management and anesthesia associated with surgical procedures and post-operative care, (ii) the intensive care unit (CSPs including analgesics, antibiotics, anticoagulants and electrolytes), and (iii) labor and delivery (epidurals and oxytocin).
Based in Lake Forest, Illinois, PharMEDium serves more than 2,600 acute-care hospitals, including integrated delivery systems, academic medical centers, hospital groups, and standalone urban, suburban and rural hospitals.