TPG in Acquisition of Envision Pharmaceutical Holdings

July 3, 2013

Cleary Gottlieb is representing TPG in connection with its acquisition of Envision Pharmaceutical Holdings. Envision is a national, full-service pharmacy benefit management company. James Mindala, Kevin Nagle and Barry Katz, the founders of Envision, and certain other stockholders will continue to have a minority equity stake in Envision following the closing of the transaction. The purchase agreement and financing commitment papers were signed on July 3, and the transaction is expected to close in the fourth quarter of 2013.

Through its subsidiaries, Envision provides full-service, integrated pharmaceutical benefit management services, including network-pharmacy claims processing, home delivery (mail-order), benefit-design consultation, drug-utilization review, formulary management, disease management, and drug data analysis services. Envision’s complementary businesses also include Envision Insurance Company, a fully insured provider of Medicare Part D Plans nationally, Envision Medical Solutions, an administrator of prescription savings plans and prescription savings cards, Orchard Pharmaceutical Services, a full-service mail-order and specialty drug pharmacy, and Design Rx, the market leader in pharmacy services for infertility and fertility.