Headquartered in New York, Avista Capital Partners is private equity (PE) firm with approximately $6bn under management.
The company declined to comment on the acquisition of UBC, a wholly-owned subsidiary of Express Scripts, who also declined to comment.
Blue Bell, PA-headquartered UBC provides clinical, safety, and commercialization services with 13 locations in the US, Canada, and Europe.
Patrick Lindsay, UBC president, said in the press release:
"Avista's commitment to the healthcare industry makes them the ideal partner as we continue to improve patient care. Together, we will provide our clients, their patients, and their prescribers with innovative services that meet the demands of a dynamic industry."
Investing in the healthcare sector
Avista has previously invested in service providers including INC Research, Charles River Laboratories, BioReliance Corporation, and Accellent, among others.
The laboratory product, supply chain, and service provider, VWR International – which was recently acquired by Avantor, Inc. – is listed under the firm’s current investments.
“Given the industry’s strong fundamentals and outlook for continued growth, Avista believes the healthcare sector continues to be an attractive area for investment,” the company states on its website.
In the press release, Rob Girardi, Partner of Avista Capital Partners, said: "We are excited to partner with UBC at this moment in the company's growth cycle, and look forward to leveraging both Avista's and UBC's expertise in the healthcare sector to deliver on the significant opportunities ahead."