PCI Announces Acquisition of Biotec
FOR IMMEDIATE RELEASE
PCI significantly expands Global Clinical Services business through Biotec acquisition
Philadelphia, PA – September 19, 2014 – PCI is pleased to announce it has acquired Biotec Services International (Biotec). Biotec is a leading provider of Clinical Trial Services and Temperature Controlled Pharmaceutical Services headquartered in Bridgend, Wales in the United Kingdom. The addition significantly expands PCI’s presence in the UK/EU to support global investigational studies of medicinal products by adding packaging, storage and distribution capacity, as well as consultative services for clinical trial supplies.
Biotec has experienced significant growth and has recently undertaken a facilities expansion to accommodate additional packaging, storage and distribution demand. Biotec’s expertise supports global projects across a range of temperature conditions including controlled room temperature, 2 – 8°C, -20°C, -40°C, -80°C, and specialization in products requiring -196°C. Biotec’s expansion more than quadruples the company’s capacity to store, package and ship Cold Chain products, and includes a second purpose built facility for the storage of Advanced Therapeutic Medicinal Products (ATMP) at -196°C. Advanced Therapeutic Medicinal Products include gene therapies, somatic cell therapies (stem cells) and tissue engineered products. Biotec’s recent facilities expansions complement PCI’s own investment in a purpose built 93,000 square foot North American Clinical Storage and Distribution facility, which includes expansive storage for temperature controlled products of investigational products.
The acquisition of Biotec further expands PCI’s growing presence in outsourced partnership solutions for drug development and commercialization. Last month PCI acquired Penn Pharma, adding pharmaceutical development and contained manufacturing services to its portfolio of Clinical Trial Services, Commercial packaging, and Laboratory services. The addition of Penn Pharma follows PCI’s acquisition of AndersonBrecon in 2013 from AmerisourceBergen. 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.
“The expertise of the team at Biotec is a natural fit for the strategic direction of our business,” states Bill Mitchell, CEO and President of PCI. “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 solution 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, truly positions PCI to provide that substantial added 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 commercialization.”
Fiona Withey, CEO of Biotec Services, adds “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 & 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.
Teneo Capital acted as the exclusive financial adviser to PCI and Frazier Healthcare for this transaction. PCI and Frazier Healthcare engaged global professional services firm Alvarez & Marsal to provide due diligence services.Goodwin Procter LLP acted as legal counsel to PCI and Frazier Healthcare for this transaction.
Established in 1997 and headquartered in Bridgend, Wales, UK, Biotec Services International has built its reputation as a temperature-controlled clinical trial supplies specialist, working with clients on a global scale and developing innovative solutions to meet their evolving clinical trial supply needs. Specialist services in support of clinical trials include comparator sourcing and blinding; packaging, labelling and assembly of clinical trial medication kits; temperature controlled storage and distribution; QP and GMP consultancy services. Uniquely, Biotec’s expertise encompasses the storage and distribution of Advanced Therapeutic Medicinal Products (ATMPs) such as cell- and gene-therapies. Biotec is a trusted partner for the global support of clinical trials involving high value therapies for which clients need to be confident that the right drug will reach the right patient at the right time, and at the correct temperature. For more information visit www.biotec-uk.com or follow us on Twitter @BiotecServices
The global healthcare industry trusts PCI for the development solutions that increase their products’ speed to market and opportunities for commercial success. Only PCI brings the proven experience that comes with more than 50 successful product launches a year and over four decades in the healthcare business. Leading technology and continued investment enables us to address global needs throughout the product life cycle — from preclinical development, clinical investigational studies, commercialization and ongoing supply. Our clients view us as an extension of their business and a collaborative partner, with the shared goal of improving patients’ lives. For more information please visit www.pciservices.com or follow us on Twitter at @PCI_Social.
Established in 2000 as a global venture capital firm, Greenspring Associates currently manages both a dedicated late stage direct investment platform as well as a globally diversified fund-of-funds platform. Since inception, the Firm has invested in over 55 portfolio companies alongside of its leading venture capital and growth equity managers both in the United States and Europe. Through the Firm’s value-added investment approach, it primarily invests across the information technology and communications stack, as well as healthcare and energy-related technologies. The Firm currently manages over $2.2 billion in committed capital for a diverse group of pension plans, insurance companies, foundations, endowments and family offices in North America, Europe, Middle East, Australia and Asia.
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