PE firm Frazier Healthcare Partners explores sale of PCI Pharma Services

Private equity Firm, Frazier Healthcare Partners, is exploring a sale of PCI Pharma Services, which would value the provider of outsourced packaging and clinical trial supply services to the pharmaceutical industry at around $1 billion, including debt.

Citing people familiar with the matter, Reuters today reported that Frazier has hired RBC Capital Markets to find potential buyers, including other buyout firms for PCI Pharma.

PCI was formed in 2012, when Frazier acquired the packaging operations of Blackstone Group's Catalent Pharma Solutions and a year later acquired the contract packaging business of AmerisourceBergen Corp and merged it with PCI Pharma.

Philadelphia-based PCI Pharma provides analytical services, formulation development, clinical trial supply, commercial manufacturing and packaging, QP services, supply chain management, storage and distribution.

The company diversified into clinical trial services with the 2014 acquisition of the UK's Penn Pharmaceutical Services Ltd.

PCI's customers include the largest global pharmaceutical manufacturers, both branded and generic, as well as many contract research organisations and other leading drug and consumer product companies.

PCI operates facilities across North America and Europe and offers product supply for more than 100 countries.