Omnicell, a US-based medication and supply management solutions provider, has signed an agreement to acquire Aesynt, a medication management firm, from Francisco Partners, for around $275m.
Aesynt provides intravenous (IV) solutions, central pharmacy solutions, point of care solutions and enterprise software to healthcare organisations.
The acquisition will expand Omnicell's product portfolio, with the addition of automated dispensing systems, central pharmacy robotics, IV robotics and enterprise analytics.
The combined company would support approximately 4,000 acute care facilities worldwide, have annual revenues of over $650m and have approximately 2,200 employees.
With expected annual revenues of more than $650m, the combined company will have around 2,200 employees and serve about 4,000 acute care facilities across the globe.
Omnicell chairman, president and CEO Randall Lipps said: "As hospitals search for ways to provide the best patient care and also the most efficient care, customers are looking for solutions that can be scaled and customised to fit the unique needs of their health system."
"By adding distinct capacities in dispensing systems, central pharmacy robotics, IV robotics and analytics, this acquisition demonstrates our continued commitment to offer our customers leading pharmacy automation solutions tailored to the specific needs of their facilities and patients.
"We also expect that as a combined entity we can accelerate innovation in the marketplace by leveraging the combined strengths of the Aesynt and Omnicell teams.
"Choice, innovation and value make this a great acquisition for Omnicell and our customers."
Aesynt offers a full suite of automated and semi-automated solutions for the IV room, including hazardous and non-hazardous solutions with IV workflow, compounding software and IV preparation analytics.
The company's central pharmacy solutions include unit dose medication dispensing robots, vertical storage and dispensing of medications, open shelf inventory tracking and unit dose repackaging products and services.
It also provides medication storage and dispensing cabinets for nursing units and operating rooms and narcotic medication storage and dispensing.
Additionally, the company provides enterprise-wide medication logistics management software, automated procurement and order management, and reporting and analytics for inventory management and medication utilisation.
Subject to customary closing conditions, the transaction is expected to be completed next year.
Francisco Partners partner and Aesynt directors board chairman Chris Adams said: "Through significant investment in new products, particularly new enterprise medication management software, the team significantly revitalised the organisation and returned it to rapid growth."
In this transaction, Greenhill & Co was the financial advisor and Sidley Austin, Cooley and Jones Day served as legal counsel for Omnicell, while Francisco Partners was advised by Robert W Baird & Co. and Kirkland & Ellis.