Francisco Partners said Monday that it has closed its buy of McKesson Automation from McKesson Corp. No financial terms were disclosed for the transaction, although some outlets report the value to be at $52 million. McKesson Automation has been renamed Aesynt. Based in Cranberry Township, Penn., Aesynt is a provider of pharmacy automation solutions for hospitals and health systems.
SAN FRANCISCO & PITTSBURGH, Nov 04, 2013 (BUSINESS WIRE) — Francisco Partners, a leading technology-focused private equity firm, today announced it has completed the acquisition of McKesson Automation, a unit of McKesson Corporation that offers integrated pharmacy automation solutions for hospitals and health systems. The company was renamed Aesynt upon closing.
“Our new shareholder relationship offers many opportunities to create solutions that help health systems to improve care, build stronger businesses, and manage the tremendous change underway in healthcare,” said Kraig McEwen, president of Aesynt. “The financial and operational support that Francisco Partners provides will allow us to help our customers meet these industry challenges.”
Commenting on the news, Chris Adams, a principal at Francisco Partners, added, “We are increasingly excited about Aesynt’s potential. The company is known for its deep knowledge of the medication delivery process, and we support Aesynt’s leadership team and its strategy to develop compelling automation solutions for medication management.”
Aesynt helps hospitals and health systems streamline the delivery of medications – from the distribution source to the patient – shifting focus from manual, time-consuming tasks to patient care activities that impact outcomes and reduce costs. The business offers a range of solutions addressing every stage of medication delivery within a hospital, including central pharmacy, nursing and surgical services.
The company’s new name, Aesynt (pronounced “ascent”), reflects the corporate vision and growth strategy to continuously advance medication management solutions. Aesynt will formally launch its new identity at the 2013 Midyear Clinical Meeting of the American Society of Health-System Pharmacists (ASHP), including an exhibition of its full suite of pharmacy automation solutions. The event takes place Dec. 8 – 12 in Orlando, Fla.
McEwen added, “This business was founded in Pittsburgh and has deep roots in the local community. We intend to maintain our local headquarters and manufacturing, and plan to continue to hire to support our growth.”
About Francisco Partners
Francisco Partners is a global private equity firm that specializes in investments in technology companies. Since its launch over a decade ago, FP has raised approximately $7 billion and invested in more than 100 technology companies, making it one of the most active investors in the industry. The firm invests in transaction values ranging from $50 million to over $2 billion, where the firm’s deep sub-sector knowledge and operational expertise can help a company realize its full potential. For further information, please visit: www.franciscopartners.com.
Aesynt continuously advances medication delivery, offering integrated pharmacy automation solutions that help health systems to support improved patient outcomes, build stronger businesses and manage ongoing change. For more information, visit www.aesynt.com.