Altaris Acquires Padagis from Perrigo
New York, NY—Altaris Capital Partners, LLC (collectively with its affiliates, “Altaris”) announced today that it has completed the acquisition of Padagis LLC (“Padagis”), formerly the generic prescription pharmaceuticals business of Perrigo Company plc (NYSE; TASE: PRGO), for total consideration equal to $1.55 billion.
Padagis is a leader in the generic prescription pharmaceutical industry and has more than 1,300 employees across six locations in the United States and Israel. The company’s diversified portfolio consists of over 200 product families and 800 SKUs, with a focus on extended topical dosage forms, including creams, ointments, lotions, gels, foams, liquids and nasal sprays.
The company has a long track record of launching first-to-file and first-to-market generic pharmaceutical products that have helped to make prescription products more affordable for patients and reduce costs for the healthcare system.
J.P. Morgan served as lead financial advisor and Lead Left Arranger, Goldman Sachs & Co. served as financial advisor and Arranger, and UBS served as Arranger to Altaris. Schiff Hardin LLP, Cleary Gottlieb, and Yigal Arnon & Co. provided legal counsel to Altaris.
Altaris is an investment firm focused exclusively on the healthcare industry. Altaris seeks to invest in companies that deliver value to the healthcare system and improve patient outcomes by providing innovative products and services. Since inception in 2003, Altaris has invested in more than 40 companies across its five main investment funds. Altaris has $5.6 billion of equity capital under active management and is headquartered in New York, NY. For more information, visit www.altariscap.com.