M&A Deal Summary

JLL Partners and AdvancePCS Acquire PCS Health Systems

On July 12, 2000, private equity firm JLL Partners and AdvancePCS acquired healthcare services company PCS Health Systems from Rite Aid for 1.0B USD

Acquisition Highlights
  • This is JLL Partners’ 2nd and AdvancePCS’s 1st transaction in the Healthcare Services sector.
  • This is JLL Partners’ 4th and AdvancePCS’s largest (disclosed) transaction.
  • This is JLL Partners’ 3rd and AdvancePCS’s 1st transaction in the United States.
  • This is JLL Partners’ 1st and AdvancePCS’s 1st transaction in Arizona.

M&A Deal Summary

Date 2000-07-12
Target PCS Health Systems
Sector Healthcare Services
Buyer(s) JLL Partners
AdvancePCS
Sellers(s) Rite Aid
Deal Type Divestiture
Deal Value 1.0B USD

Target

PCS Health Systems

Scottsdale, Arizona, United States
PCS Health Systems, Inc. is a pharmacy benefit manager, providing drug and health management solutions for health plans and patients. As America's premier pharmaceutical care system, PCS works to encourage proper drug use and helps to lower the cost of drugs for its clients. PCS manages and monitors approximately 300 million individual prescriptions each year representing $10 billion in drug expenditures.

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Buyer(S) 2

Buyer

JLL Partners

New York, New York, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

JLL Partners, Inc. is a private equity investment firm that invests alongside management in middle-market companies. JLL prefers control investments in sectors such as healthcare services, medical products, food and consumer products, chemicals, broadcasting, transportation, automotive, industrial manufacturing, and distribution. In addition to traditional buyout transaction, JLL also seeks distressed/turnaround situations. JLL Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 3 of 40
Sector (Healthcare Services) 2 of 4
Type (Divestiture) 1 of 4
State (Arizona) 1 of 1
Country (United States) 3 of 38
Year (2000) 1 of 1
Size (of disclosed) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-10-01 IASIS Healthcare

Franklin, Tennessee, United States

IASIS Healthcare Corp. is an owner and operator of medium-sized acute care hospitals in high-growth urban and suburban markets. Additionally, IASIS owns and operates a Medicaid managed health plan in Phoenix that serves over 108,000 members. IASIS Healthcare was formed in 1998 and is based in Franklin, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-12-20 NetSpend Holdings

Austin, Texas, United States

NetSpend Holdings, Inc. is a provider of reloadable prepaid debit cards and related financial services.

Buy -
Buyer

AdvancePCS

Irving, Texas, United States

Category Company
Sector Healthcare Services
DESCRIPTION

AdvancePCS is an independent provider of health improvement services. AdvancePCS offers health plans a wide range of health improvement products and services designed to improve the quality of care delivered to health plan members and manage costs.


DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Divestiture) 1 of 1
State (Arizona) 1 of 1
Country (United States) 1 of 1
Year (2000) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Rite Aid

Philadelphia, Pennsylvania, United States

Category Company
Founded 1962
Sector Retail
Employees47,000
Revenue 24.1B USD (2023)
DESCRIPTION

Rite Aid is a drugstore chain. Rite Aid operates through two segments, Retail Pharmacy and Pharmacy Services. Rite Aid was founded in 1962 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 1 of 2
Sector (Healthcare Services) 1 of 2
Type (Divestiture) 1 of 2
State (Arizona) 1 of 1
Country (United States) 1 of 2
Year (2000) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-11-18 PCS Health Systems

Scottsdale, Arizona, United States

PCS Health Systems, Inc. is a pharmacy benefit manager, providing drug and health management solutions for health plans and patients. As America's premier pharmaceutical care system, PCS works to encourage proper drug use and helps to lower the cost of drugs for its clients. PCS manages and monitors approximately 300 million individual prescriptions each year representing $10 billion in drug expenditures.

Buy $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-01 Health Dialog Services

Boston, Massachusetts, United States

Health Dialog Services is a provider of care management services, including disease management. Health Dialog helps health plans, employers and physician groups improve healthcare quality while reducing overall costs. Health Dialog Services offerings include health coaching for medical decisions, chronic conditions, and wellness; population analytic solutions; and consulting services. Health Dialog Services is based in Boston, Massachusetts.

Buy -