SEATTLE, and SOMERSET, N.J., June 20, 2012 /PRNewswire/ -- Frazier Healthcare and Catalent Pharma Solutions, Inc., today announced they have closed the purchase and sale of Catalent's U.S. commercial pharmaceutical packaging operations based in Philadelphia, PA and Woodstock, IL to Frazier.
The business will be operated as Packaging Coordinators, Inc. ("PCI"). The former president of the business (from 2002-2006), Bill Mitchell, will again take the helm as president and chief executive officer. Re-joining Mr. Mitchell as part of the new PCI management team are Bill Bolding, as chief operating officer, and Phil DiGiacomo, as vice president of sales, each of whom have a longstanding history of success in both the industry and with PCI.
"This second act for PCI is not about nostalgia. We want to build on a strong foundation and reinvigorate PCI to once again become the supplier of choice for outsourced healthcare packaging," said Bill Mitchell, president and chief executive officer of Packaging Coordinators, Inc. "This management team knows growth is about focusing on the customer, including their mission critical milestones, timelines and business needs. The products create and drive the opportunity. The attention to quality and the focus on meeting the customers current and future needs will drive our growth."
Frazier Healthcare, founded in 1991 to invest exclusively in healthcare, is a leading provider of growth equity and venture capital to high growth and emerging healthcare companies.
"We are demonstrating our emphasis on a team approach at Frazier by empowering a known and passionate management team to create a reinvigorated model for healthcare packaging," said Alan Frazier, managing partner of Frazier Healthcare. "The acquisition of PCI gives us the opportunity
|SOURCE Packaging Coordinators, Inc.|
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