Deloitte Advises Partners Rx in Magellan Health Sale
Deloitte Corporate Finance acted as the exclusive financial advisor to Partners Rx Management in its sale to Magellan Health Services. As a nationally recognized, full-service commercial pharmacy benefits management company with a 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, and co-head of DCF’s life sciences and healthcare group.
Founded in 2001 and headquartered in Scottsdale, AZ, Partners Rx is a leading transparent PBM. 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.