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Clayton, Dubilier & Rice to Invest in PharMEDium, Nation's Leading Provider of Sterile Compounding Services to Hospital Pharmacies
Date:12/19/2013

LAKE FOREST, Ill., Dec. 19, 2013 /PRNewswire/ -- PharMEDium, the leading national provider of hospital pharmacy-outsourced sterile compounding services, today announced an agreement under which a fund managed by Clayton, Dubilier & Rice (CD&R) will invest in the company. Oak Investment Partners and Baird Capital will exit as part of the transaction, while JVC Management, an investment firm controlled by David N. Jonas, Chairman and CEO of the Company, will retain an investment in the company. 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 delivery to patients. Using 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, stability, sterility and dating characteristics that are required by its hospital customers. Based in Lake Forest, Illinois and operating through four outsourcing facilities, 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. 

The company has been registered with the U.S. Food and Drug Administration (FDA) since its inception in 2003. On December 4, 2013, PharMEDium voluntarily registered with the FDA as a 503B large-scale sterile compounding "outsourcing facility" under the newly enacted Drug Quality and Security Act, ("DQSA"), which was signed into law on November 27, 2013. PharMEDium's registration reflects the company's continued commitment to patient safety with FDA oversight, safety, compliance and information transparency.

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SOURCE PharMEDium; Clayton, Dubilier & Rice
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