NEW YORK & JEFFERSONVILLE, Ind.--(BUSINESS WIRE)--Permira, the global investment firm, and PharmaCord LLC (“PharmaCord”), a leading provider of patient services for the pharmaceutical industry, today announced that a company backed by the Permira funds has signed a definitive agreement to make a substantial investment in PharmaCord. Founder and Chief Executive Officer Nitin Sahney and the management team will continue to lead PharmaCord and will remain significant investors in the Company alongside the Permira funds. Terms of the transaction were not disclosed.
PharmaCord is a high-growth pharma services company that serves as a commercialization partner for life sciences organizations with the goal of enhancing the patient experience. PharmaCord’s comprehensive solutions support the patient journey for specialty medications through a range of services that raise awareness, facilitate access to treatment, improve affordability and promote therapy adherence. A leading tech-enabled player in the space, PharmaCord has relationships with over 30 pharmaceutical company clients and supports over 100 pharmaceutical products through its various programs.
“We are very excited to partner with a leading, growth-oriented, technology-focused investment firm like Permira to help us broaden our tech-enabled offerings and support our ambitious expansion efforts,” said Nitin Sahney, Founder and CEO of PharmaCord. “We are guided by our commitment to innovation and our strength in developing and deploying effective technology-supported solutions to enable our clients to improve the patient experience. I’m incredibly proud of what our team has accomplished thus far and look forward to bringing even more services to our clients while capturing the exciting growth opportunities ahead with the benefit and support of a global investor like Permira.”
Jon Maschmeyer, Partner at Permira, said, “We’ve been extremely impressed with PharmaCord’s stellar reputation and the growth the company has achieved under the leadership of Nitin, a visionary founder, as well as his highly experienced and accomplished team. Given the market demand for specialty pharmaceuticals coupled with growing therapeutic complexity, the need for PharmaCord’s offerings have never been greater. We are excited to partner with Nitin and leverage our extensive experience backing tech-enablement at healthcare companies to support PharmaCord’s expansion initiatives and growth plans.”
The deal, which is subject to customary regulatory approvals, is expected to close by the fourth quarter of 2024.
Centerview Partners acted as financial advisor to PharmaCord and Willkie Farr & Gallagher acted as PharmaCord’s legal counsel. Jefferies LLC and Leerink Partners acted as financial advisors to Permira and Skadden, Arps, Slate, Meagher & Flom LLP acted as Permira’s legal counsel.
About PharmaCord
As a patient services provider, PharmaCord works on behalf of drug manufacturers to simplify the patient therapeutic journey. Through a combination of its proprietary PharmaCord Lynk™ technology suite, exceptionally talented team members and its non-commercial pharmacy PharmaCord Scripts™, PharmaCord helps patients have a better experience accessing and adhering to their critical medications. To learn more about how PharmaCord improves commercial outcomes for life sciences companies, visit pharmacord.com.
About Permira
Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with total committed capital of approximately €80bn and makes long-term majority and minority investments across two core asset classes, private equity and credit.
The Permira funds have an extensive track record investing in healthcare, having partnered with 19 companies in the specialty pharma, medical devices and strategic outsourcing spaces, as well as in the high-growth tech-enabled healthcare services space. The Permira funds have previously supported and helped scale Cambrex, LSNE, I-Med Radiology, Ergomed, Kedrion Biopharma, and other healthcare leaders.
The Permira private equity funds have made approximately 300 private equity investments in four key sectors: Technology, Healthcare, Consumer and Services. Permira employs over 500 people in 15 offices across Europe, the United States and Asia. For more information, visit www.permira.com or follow us on LinkedIn.