Private equity firm Warburg Pincus, partnering with Abu Dhabi Investment Authority, is nearing a deal to acquire specialty pharmacy PANTHERx Rare for over $7 billion. The acquisition comes as PE firms increase deal activity. PANTHERx, which serves patients with rare diseases, was sold by insurer Centene in 2022 to a consortium including General Atlantic. The deal is not yet finalized.
Warburg Pincus acquisition deal
▪Warburg Pincus is partnering with the Abu Dhabi Investment Authority on the acquisition of PANTHERx Rare.
▪Private equity firm Warburg Pincus is nearing a deal to acquire specialty pharmacy company PANTHERx Rare for over $7 billion, including debt.
▪Warburg Pincus declined to comment on the deal, and PANTHERx did not immediately respond to a request for comment.
▪A deal could be finalized soon, but sources cited by the Wall Street Journal cautioned that it is not yet finalized and the timing could slip.
PANTHERx ownership history
▪Centene sold PANTHERx in 2022 to streamline its business and focus on its core health insurance operations.
▪PANTHERx Rare is a Pittsburgh-based specialty pharmacy that provides medicines and support services for rare and orphan diseases.
▪PANTHERx Rare is currently owned by an investor group that includes General Atlantic, Nautic Partners, and The Vistria Group.
▪Health insurer Centene acquired PANTHERx in 2020 and sold it to the private equity consortium in 2022 for an undisclosed amount.
Private equity deal environment
▪Warburg Pincus manages more than $100 billion in assets and has several healthcare investments, including START Center for Cancer Research and Simtra BioPharma Solutions.
▪The potential acquisition comes as private equity firms seek to increase deal activity amid a backlog of portfolio companies awaiting exits.
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