Harris Williams Advises Comprehensive Pharmacy Services, Inc. on its Sale to Frazier Healthcare Partners

April 18, 2019

Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Comprehensive Pharmacy Services, Inc. (CPS), a portfolio company of a private equity fund co-advised by NexPhase Capital, LP (NexPhase) and Moelis Capital Partners LLC (MCP), on its sale to Frazier Healthcare Partners (Frazier). CPS is a market leading provider of enterprise pharmacy solutions including pharmacy management, telepharmacy and ambulatory/specialty pharmacy. The transaction was led by Andy Dixon, Cheairs Porter, Turner Bredrup,  Paul Hepper and Tyler Bradshaw of Harris Williams’ Healthcare & Life Sciences (HCLS) Group.

“We are thrilled to have represented the CPS team in another successful transaction,” said Andy Dixon, a managing director at Harris Williams. “CPS’s innovative solution suite enables clients to improve clinical outcomes and drive financial performance in an increasingly complex environment.”    

“Management and NexPhase have done a tremendous job continuing to expand CPS’s capabilities and solutions, and Frazier will be an excellent partner to support the company’s continued growth and success,” said Cheairs Porter, a managing director at Harris Williams.

Founded nearly 50 years ago and employing over 2,300 clinical, regulatory and operational pharmacy professionals, CPS is one of the nation’s largest providers of pharmacy solutions to more than 700 hospitals and health system facilities across the United States and Puerto Rico. CPS helps hospital pharmacists tackle complex problems such as medication reconciliation, hyper-inflated drug costs, standardization, centralized distribution, regulatory and compliance, and 340B programs leading to increased quality, reduced admissions and lower costs.

NexPhase is an operationally-focused independent private equity firm that makes equity investments between $25 million and $75 million in lower-middle market, growth-oriented companies in the consumer, healthcare, industrial services and software sectors. The firm was formed by the former principals of Moelis Capital Partners to execute, on an independent basis, the same operationally-focused strategy of completing control investments in lower-middle market companies to create value through dedicated operating resources, new sales channels and effective partnerships. NexPhase advises $1.2 billion of private equity capital.

MCP, a subsidiary of Moelis Asset Management LP, is a middle market private equity firm founded in 2007. MCP co-manages approximately $872 million of committed private equity capital with NexPhase Capital in traditional private equity investments.

Founded in 1991, Frazier is a leading provider of growth and venture capital to healthcare companies. With nearly $4.2 billion total capital raised, Frazier has invested in over 170 companies, with investment types ranging from company creation and venture capital to buyouts of profitable lower-middle market companies. The firm’s Growth Buyout team invests in healthcare and pharmaceutical services, medical products and related sectors. Frazier has offices in Seattle, Washington and Menlo Park, California, and invests broadly across the U.S., Canada and Europe.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

Harris Williams’ HCLS Group has experience across a broad range of sectors, including medical devices, products and distribution; multi-site and retail healthcare providers; alternate site care; healthcare IT; managed care and cost containment services; outsourced clinical services; and outsourced pharma services.  For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.