Express Scripts to sell subsidiary to private equity firm

Express Scripts Holding Co. said that it has reached an agreement to sell its subsidiary, United BioSource, to private equity firm Avista Capital Partners.

Financial terms of the deal were not disclosed.

United BioSource, known as UBC, provides pharmaceutical and support services. The company was founded in 2003 and is located Blue Bell, Pa. Express Scripts acquired the firm as part of its blockbuster purchase of Medco in 2012.

UBC has 13 locations in the U.S., Europe, and Canada, according to statement from Express Scripts.

New York-based Avista Capital Partners focuses on investments in the health care sector.

With the deal, Express Scripts is trimming some of its ties to a $35,000-a-vial medicine made by Mallinckrodt by selling a unit that helps patients access some high-priced drugs.

Read more: St. Louis Post-Dispatch, Bloomberg

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