Warburg Pincus has announced that a Warburg Pincus-led investor group has agreed to acquire a controlling interest in PANTHERx Rare from Nautic Partners, General Atlantic and The Vistria Group, supported by a material minority investment from a subsidiary of the Abu Dhabi Investment Authority.
Nautic Partners and PANTHERx management will remain significant shareholders alongside the new investor group, while General Atlantic and The Vistria Group are exiting their positions.
PANTHERx Rare, founded in 2011 and based in Pittsburgh, Pennsylvania, is an independent rare pharmacy.
Warburg Pincus, founded in 1966 and based in New York, is a global private equity firm focused on growth investing. The firm takes a long-term perspective and invests in businesses at all stages of development within healthcare and several other sectors.
Nautic, based in Providence, Rhode Island, is a middle market private equity firm focused on investments in healthcare and a few other sectors. The firm prefers to make $50 million to $500 million-plus equity commitments in a variety of buyout, growth and consolidation opportunities of North American companies, targeting EBITDA of $10 million to $100 million-plus.
General Atlantic, founded in 1980 and based in New York, is a global growth equity firm that prefers to make more substantial investments from a dollars perspective in healthcare and a number of other sectors. The firm pursues healthcare investments in the provider services, life sciences/pharmaceutical industry, hospitals/major facilities and non-reimbursement industries.
The Vistria Group, founded in 2013 and based in Chicago, focuses on making investments in middle market companies in healthcare and a few other industries. The firm pursues control and minority equity investments and prefers to make more substantial investments from a dollars perspective in companies with at least $100 million in revenue.
Terms of the transaction were not disclosed. Industry reports valued the transaction at more than $7 billion.