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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

="name">David N. Jonas, Founder, Chairman and CEO, will be succeeded by William R. Spalding, PharMEDium's Executive Vice President, Strategy, Legal and Finance, who will become Chief Executive Officer. Mr. Spalding has more than 20 years of management leadership experience in the healthcare industry. Prior to joining PharMEDium, Mr. Spalding was the Executive Vice President, Strategy and Managed Care of CVS Caremark Corporation, and the Executive Vice President, Strategic Initiatives at Caremark Rx, Inc.

David N. Jonas, who founded PharMEDium in 2003, will remain on the Board of Directors and retain a minority ownership interest in the business. 

"Under David's leadership, PharMEDium has become the preeminent provider of choice for pharmacy outsourced sterile, intravenous admixture compounding services and the national leader in the hospital pharmacy-outsourcing sector," said CD&R Partner Richard J. Schnall. "The company has a sterling reputation for ensuring the highest level of patient safety and provides a highly differentiated value proposition to hospitals that are increasingly outsourcing the preparation of customized anticipatory sterile compounds. We look forward to partnering with the PharMEDium team to build upon the company's exceptional track record of commitment to patient safety and customer service."

"I am extremely proud of our achievements as a company over the last decade and look forward to seeing PharMEDium continue its track record of innovative solutions for drug delivery with unmatched customer service offerings with our new equity partners," said Mr. Jonas. "CD&R has a strong track record working with management teams to build businesses. Importantly, the firm shares our vision for growing PharMEDium and deep commitment to putting patient safety first in everything that we do."

PharMEDium's financial advisor was J.P. Morgan and K&L
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SOURCE PharMEDium; Clayton, Dubilier & Rice
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