M&A Deal Summary

Diplomat Pharmacy Acquires LDI Integrated Pharmacy Services

On November 15, 2017, Diplomat Pharmacy acquired life science company LDI Integrated Pharmacy Services from Nautic Partners for 595M USD

Acquisition Highlights
  • This is Diplomat Pharmacy’s 3rd transaction in the Life Science sector.
  • This is Diplomat Pharmacy’s largest (disclosed) transaction.
  • This is Diplomat Pharmacy’s 10th transaction in the United States.
  • This is Diplomat Pharmacy’s 1st transaction in Missouri.

M&A Deal Summary

Date 2017-11-15
Target LDI Integrated Pharmacy Services
Sector Life Science
Buyer(s) Diplomat Pharmacy
Sellers(s) Nautic Partners
Deal Type Add-on Acquisition
Deal Value 595M USD
Advisor(s) Houlihan Lokey (Financial)
Goodwin Procter (Legal)

Target

LDI Integrated Pharmacy Services

Creve Coeur, Missouri, United States
Leehar Distributors LLC is a full-service pharmacy benefit manager (PBM). LDI offers URAC–accredited mail-order and specialty pharmacies, a national network of retail pharmacies, and comprehensive clinical programs. Leehar Distributors LLC was established in 1967 and is based in Creve Coeur, Missouri.

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Buyer(S) 1

Buyer

Diplomat Pharmacy

Flint, Michigan, United States

Category Company
Founded 1975
Sector Healthcare Services
Employees1,565
Revenue 5.5B USD (2018)
DESCRIPTION

Diplomat Pharmacy, Inc. is a provider of medication management programs for people with complex chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, HIV, specialized infusion therapy and many other serious or long-term conditions.


DEAL STATS #
Overall 10 of 10
Sector (Life Science) 3 of 3
Type (Add-on Acquisition) 10 of 10
State (Missouri) 1 of 1
Country (United States) 10 of 10
Year (2017) 5 of 5
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-06 National Pharmaceutical Services

Boys Town, Nebraska, United States

Pharmaceutical Technologies, Inc. is a fully integrated pharmacy benefit manager (PBM) servicing Group and Commercial Health, Medicare Part D, Managed Medicaid, Health Insurance Exchanges, and Workers’ Compensation programs. Pharmaceutical Technologies was founded in 1993 and is based in Boyd Town, Nebraska.

Buy $31M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-16 Envoy Health Management

Miami Lakes, Florida, United States

Envoy Health Management LLC provides diabetes supplies and support, along with the tools and information help to manage diabetes-and live life to the fullest.

Sell -

Seller(S) 1

SELLER

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.


DEAL STATS #
Overall 37 of 47
Sector (Life Science) 2 of 2
Type (Add-on Acquisition) 15 of 18
State (Missouri) 3 of 4
Country (United States) 37 of 46
Year (2017) 2 of 2
Size (of disclosed) 5 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-07 IPS

Compton, California, United States

IPS is a manufacturer of a wide range of adhesive cement, structural adhesives, and niche plumbing products primarily for residential, commercial, industrial, and international markets. IPS was founded in 1954 and is based in Compton, California.

Sell $700M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-10 Simonds International

Springfield, Oregon, United States

Simonds International is a developer and manufacturer of industrial cutting tools for metal, wood, and paper. Simonds International was founded in 1832 and is based in Springfield, Oregon.

Sell -