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Deloitte Corporate Finance Advises Partners Rx Management in Magellan Health Sale

October 09, 2013, 07:13 AM
Filed Under: Mergers & Acquisitions

Deloitte Corporate Finance LLC acted as the exclusive financial advisor to Partners Rx Management, LLC in its sale to Magellan Health Services, Inc.  As a nationally-recognized, full-service commercial pharmacy benefits management company with a strong focus on health plans and self-funded employers, Partners Rx is expected to serve as a key platform for Magellan's growing commercial PBM business unit.

"DCF's deep industry experience truly added value throughout the process.  Their long-term commitment to Partners Rx and our goals as a company helped us achieve an outstanding outcome for our entire team.  DCF's experience with strategic transactions involving privately held businesses was instrumental in completing this transaction," said Bob Field, chief executive officer of Partners Rx.

"Partners Rx's customer service and dedication to its open-book operating model have established the company as a leading provider of PBM services to middle market companies.  We see the transaction with Magellan as providing the Partners Rx team with a platform to significantly expand operations throughout the PBM industry," said Dave Vorhoff, managing director, Deloitte Corporate Finance LLC, and co-head of DCF's life sciences and healthcare group.

Founded in 2001 and headquartered in Scottsdale, Arizona, Partners Rx is a leading transparent pharmacy benefits management company.  Since its inception, Partners Rx has maintained a focus on offering a collaborative, partnership-based business model to reduce the overall cost of prescription benefit plans for middle market clients.

Headquartered in Avon, CT, Magellan Health Services, Inc. is a leading specialty health care management organization with expertise in managing behavioral health, radiology, and pharmacy benefits programs, as well as integrated health care programs for special populations. 

Deloitte Corporate Finance, a FINRA-registered broker-dealer and wholly-owned subsidiary of Deloitte Financial Advisory Services LLP, provides deal execution and lead financial advisory services to large corporate, middle market, and private equity firms. 

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