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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