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Advance Paradigm pays $1bn for Rite Aid's PCS
23 May 2001
Executive Summary
Pharmacy benefit management company Advance Paradigm has acquired Rite Aid's PCS Health Systems to create a pharmacy benefit management giant with about $3.2bn in revenues, serving about 75mm people in the US, with a total of about 450mm drug claims. It paid $1bn total: $675mm cash, $200mm in senior subordinated notes, and $125mm in new AP equity.
Deal Industry
- Pharmaceuticals
-
Services
- Pharmacy Services, PBMs
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Payment Includes Cash
- Payment Includes Stock
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Advance Paradigm pays $1bn for Rite Aid's PCS
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