PCI targets European growth with acquisition of Dublin-based Millmount Healthcare
Leading pharmaceutical outsourcing services provider PCI Pharma Services (PCI) has announced the acquisition of pharmaceutical and healthcare contract packaging services provider Millmount Healthcare, located near Dublin, Ireland.
Millmount has been serving pharmaceutical and healthcare customers for over 20 years with advanced capability in the areas of blister packaging, bottling and tub filling, as well as offering expertise in late stage customization and Cold Chain packaging services. Additionally, Millmount has invested in expanding its potent compound packaging capability, recently opening a new, state-of-the-art high potent, high containment packaging facility.
“We are very excited to welcome the Millmount team to PCI,” commented Bill Mitchell, President and CEO. “We continue to see strong demand from our customers for medicines targeted for international growth markets both in commercial medicines as well as investigational medicines for clinical trials.”
PCI currently supports medicines destined to over 100 countries around the world. The acquisition of Millmount and presence in Ireland further underscores PCI’s strategy and commitment to be the partner of choice to meet the global market needs of its customers. The addition of Millmount will mark PCI’s fourth acquisition outside of the U.S. in four years, demonstrating PCI’s continued commitment to growth and geographic expansion.
“With Millmount’s geographic presence in the European Union, we also see tremendous value in helping mitigate any uncertainty brought about by the evolving Brexit situation. We see Millmount’s strengths and investments as complementary to PCI’s, and this will further help us deliver the industry leading experience to our clients as we partner in delivering life-saving medicines to patients around the world.”
Pascal Keogh, the founder of Millmount, commented: “I am delighted Millmount is joining the PCI community and firmly believe this is a very positive event for our employees and customers. PCI is clearly a market-leading, global organization that will allow Millmount to expand into new service lines, including serialization, as well as accelerate growth of the business.”
With the addition of Millmount, PCI will now feature 18 facilities across North America and Europe, employing over 3,200 highly trained associates. The acquisition of Millmount continues PCI’s strategy of continued investment and expansion of services. In addition to commercial packaging, Millmount is licensed to support clinical trial medicines, and PCI expects to immediately initiate site training and facility upgrades to support storage, distribution and QP release of clinical trial supplies. PCI expects the Millmount facilities to become an important hub for its Clinical Trial Services business given its strategic position in the European Union.
PCI has been actively investing in its core business and has recently announced key site capacity expansions as well as site investments in Cold Chain infrastructure. PCI announced Cold Chain and Ultra Cold Chain expansions at its Philadelphia and Rockford locations in support of temperature controlled packaging, storage and distribution. PCI also embarked on site expansions of its Tredegar and Bridgend facilities in the United Kingdom. Furthermore, PCI’s packaging services have invested in additional commercial packaging lines, and significant expansion of its global capacity in Serialization and Anticounterfeiting technologies. Millmount’s recent investment in a state-of-the-art potent compound facility complements PCI’s award winning high containment solutions for potent drug development and scalable drug manufacturing, as well as industry leading segregated packaging services.
PCI, headquartered in Philadelphia, PA, is principally owned by Partners Group, with partner investors Thomas H. Lee Partners and Frazier Healthcare.
McCann FitzGerald and Goodwin Procter LLP acted as legal counsel to PCI for this transaction. PCI engaged global professional services firm Alvarez & Marsal to provide due diligence services.