Somerset, N.J.-based Catalent Pharma Solutions has closed the purchase and sale of its U.S. commercial pharmaceutical packaging operations based in Philadelphia, Penn., and Woodstock, Ill., to Frazier Healthcare.
The business will be operated as Packaging Coordinators (PCI). The former president of the business (from 2002-2006), Bill Mitchell, will again take the helm as president and CEO. Re-joining Mitchell as part of the new PCI management team are Bill Bolding as COO and Phil DiGiacomo as vice president of sales, each of whom have a longstanding history of success in both the industry and with PCI.
"We are demonstrating our emphasis on a team approach at Frazier by empowering a known and passionate management team to create a reinvigorated model for healthcare packaging," said Alan Frazier, managing partner of Frazier Healthcare. "The acquisition of PCI gives us the opportunity to extend our model of uncovering opportunities where the combination of new a management team and an infusion of capital can result in outstanding growth and market leadership."
Catalent's decision to sell its U.S. commercial packaging operations is based on the company's business strategy to focus on growing its world leading businesses in development solutions and advanced delivery technologies, clinical trial supplies, advanced blow/fill/seal aseptic delivery technology, as well as offering integrated solutions for the development and supply of injectable biologics and complex pharmaceutical products. The acquisition does not involve Catalent's clinical supply services operations adjacent to the Red Lion Road facility in Philadelphia, nor the blow/fill/seal business in Woodstock.
"This second act for PCI is not about nostalgia. We want to build on a strong foundation and reinvigorate PCI to once again become the supplier of choice for outsourced healthcare packaging," said Bill Mitchell, president and CEO of PCI. "This management team knows growth is about focusing on the customer, including their mission critical milestones, timelines and business needs. The products create and drive the opportunity. The attention to quality and the focus on meeting the customers’ current and future needs will drive our growth."