TPG Nears Deal to Acquire Envision Pharmaceutical

By IVCPOST Staff Reporter

Jul 08, 2013 01:59 AM EDT

TPG Capital was founded by David Bonderman and Jim Coulter. The private equity firm said that a deal was near to close for the acquisition of the Ohio based pharmacy benefits manager, Envision Pharmaceutical Holdings Inc. This was according to a person with direct information regarding the transaction. However, the terms of the deal were not disclosed.

The deal may be announced as early as today according to a source who asked not to be named because the deal was not yet final. Envision was founded in 2001 and has annual revenue of more than US$3.5 billion.

The members of Envision's management planned to keep minority stake in Twinsburg. The founders of the company James Midnala, Kevin Nagle and Barry Katz would continue business operations said the same source.

TPG Capital is based in Fort Worth, Texas. The company has announced a deal valued around US$5.3 billion in the last 12 months. This was according to a data compiled by Bloomberg. The deal included the US$1.9 billion buyout of generic drug manufacturer, Pharmaceutical Cos.

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