One of Wales’ leading life sciences sector firms Biotec Services International acquired by US firm PCI
One of Wales’ leading life sciences sector firms Biotec Services International has been acquired by US firm PCI for an undisclosed sum.
The deal for Bridgend-based Biotec – a leading provider of temperature-controlled clinical trial packaging and distribution services – significantly increases PCI’s ability to support global pharmaceutical investigative studies by further expanding its packaging, storage, distribution, and consultancy capabilities.
Biotec has experienced significant growth and has recently undertaken a facilities expansion to accommodate additional packaging, storage and distribution capacity. Its expertise supports global projects across a range of temperature conditions including controlled room temperature,
The acquisition expands PCI’s growing presence in outsourced partnership solutions for drug development and commercialisation. Last month PCI acquired Tregedar-based Penn Pharma in a £127m deal – adding pharmaceutical development and contained manufacturing services to its portfolio of clinical trial services, commercial packaging and laboratory services.
The addition of Penn Pharma followed PCI’s £200macquisition of AndersonBrecon in 2013 from AmerisourceBergen – including its operation in Powys.
PCI now represents 16 facilities across North America and Europe, employing over 2,900 highly trained associates, supporting therapies destined to over 100 countries around the world.
Its chief executive and president Bill Mitchell said: “The expertise of the team at Biotec is a natural fit for the strategic direction of our business.
“We are focused on providing our clients an expert partner in the development, clinical investigation, and ultimate commercialization of their lifesaving therapies. Clients are looking for solutions providers that can help them navigate the development process and enable speed-to-market.
“Adding Biotec, as well as the drug development and manufacturing expertise of Penn Pharma, really enables PCI to provide that substantial value to our clients.
I am very excited about the depth of the solutions we can provide our clients to address their daily challenges in bringing new products to successful commercialisation.”
Fiona Withey, chief executive of Biotec Services International, said: “Biotec has grown as a result of our team’s expertise in temperature-controlled clinical trial supply services, our innovative technology solutions, our flexibility, and our commitment to customer service.
“In a recent client survey, our clients told us that we should continue to do what we are doing, but should aim to develop the scope and global presence of our offering.
“Joining the PCI family allows us to deliver a truly global service to our clients across a wider range of services, while staying true to our core values of expertise, customer service, efficiency and flexibility.”
PCI is principally owned by Frazier Healthcare, with partner investors QIC Global Private Equity, Greenspring Associates and Thomas, McNerney and Partners.
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.
RCA Corporate Finance and Cardiff-based Greenaway Scott acted as financial advisor and legal counsel to Biotec on the transaction.
Original article: http://www.walesonline.co.uk/business/business-news/firm-pci–further-expanded-7799005