M&A Deal Summary

PharMerica Acquires BrightSpring Health

On December 11, 2018, PharMerica acquired healthcare services company BrightSpring Health from Onex Partners for 1.3B USD

Acquisition Highlights
  • This is PharMerica’s 9th transaction in the Healthcare Services sector.
  • This is PharMerica’s largest (disclosed) transaction.
  • This is PharMerica’s 14th transaction in the United States.
  • This is PharMerica’s 1st transaction in Kentucky.

M&A Deal Summary

Date 2018-12-11
Target BrightSpring Health
Sector Healthcare Services
Buyer(s) PharMerica
Sellers(s) Onex Partners
Deal Type Merger
Deal Value 1.3B USD

Target

BrightSpring Health

Louisville, Kentucky, United States
website
BrightSpring Health Services is a large provider of diversified home and community-based health services to complex, high-cost populations. The company provides nonclinical habilitative services and clinical rehabilitative services for people of all ages and skill levels. Its primary businesses include: behavioral health (including autism services), home health care (including personal care, home health, and hospice), neuro therapy, and job placement and vocational training, supported by pharmacy and telecare ancillary technologies and services. BrightSpring Health Services was formerly known as ResCare and is based in Louisville, Kentucky.

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Buyer(S) 1

Buyer

PharMerica

Louisville, Kentucky, United States

website


Category Company
Founded 2006
Sector Life Science
Employees4,600
Revenue 2.1B USD (2016)
DESCRIPTION

PharMerica is a provider of pharmacy services and serves the long-term care, hospital pharmacy management services, specialty home infusion, and oncology pharmacy markets. PharMerica operates 96 institutional pharmacies, 20 specialty home infusion pharmacies, and 5 specialty oncology pharmacies in 45 states. PharMerica's customers are institutional healthcare providers, such as skilled nursing facilities, assisted living facilities, hospitals, individuals receiving in-home care, and patients with cancer. PharMerica was founded in 2006 and is based in Louisville, Kentucky.


DEAL STATS #
Overall 14 of 15
Sector (Healthcare Services) 9 of 10
Type (Merger) 1 of 1
State (Kentucky) 1 of 1
Country (United States) 14 of 15
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-16 CareMed Specialty Pharmacy

Lake Success, New York, United States

CareMed Specialty Pharmacy is a provider of comprehensive specialty pharmacy services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 OnePoint Patient Care

Tempe, Arizona, United States

OnePoint Patient Care is an independent provider of community-based hospice pharmacy and pharmacy benefits management (PBM) services – offering hospices nationwide flexible and adaptable solutions for their hospice pharmacy needs. OnePoint Patient Care was established in 1969 and is based in Tempe, Arizona.

Buy -

Seller(S) 1

SELLER

Onex Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 23.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Onex Partners is the private equity investment arm of Onex Corp., a Canadian based public investment and asset management firm that also invests in real estate and credit securities. Onex Partners targets investments in large companies, and ONCAP which invests in smaller middle-market companies. Both groups consider North American businesses in a wide range of industries with a special interest in aerospace, healthcare, and industrial companies. Prospective transaction situations include corporate carve-outs where the firm can leverage restructuring capabilities. Onex Corp. was established in 1984 and is based in Toronto with an additional office in New York City.


DEAL STATS #
Overall 26 of 36
Sector (Healthcare Services) 6 of 6
Type (Merger) 2 of 4
State (Kentucky) 2 of 3
Country (United States) 20 of 28
Year (2018) 4 of 4
Size (of disclosed) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-17 Ryan

Dallas, Texas, United States

Ryan is a provider of state, local, federal, and international tax advisory and consulting services. Services include audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. Ryan was formed in 1991 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-07 SMG Holdings

West Conshohocken, Pennsylvania, United States

SMG Holdings, Inc. is a global manager of convention centers, stadiums, arenas, theatres, performing arts centers and other venues. The company offers a comprehensive suite of services, allowing venue owners to outsource all facets of day-to-day operations, including facility staffing and training, food and beverage, event booking and management, event promotion, exhibitor services, financial management and ongoing maintenance services

Sell -