PCI Announces Completion of Penn Pharma Purchase

PCI Announces Completion of Penn Pharma Purchase

PCI Welcomes Expanded Services of Penn Pharma

PHILADELPHIA, Pa., Aug. 4, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Packaging
Coordinators, Inc. (PCI) is pleased to announce it has finalized its agreement
to acquire Penn Pharmaceutical Services Limited (Penn Pharma). Headquartered
in Tredegar, Wales in the United Kingdom, Penn Pharma offers both drug
development and manufacturing services, including Clinical and Commercial
dosage form manufacturing, as well as Clinical Packaging, Labeling, and global
Storage, Distribution and Return Drug Services.

PCI is headquartered in Philadelphia, PA. The combination of PCI and Penn
Pharma features the expertise of approximately 2,800 associates across 15
facilities in North America and Europe. Across their supply network they
manufacture and package both investigational and commercial medicines on
behalf of their clients destined to over 100 countries around the world.

PCI is principally owned by Frazier Healthcare, with partner investors QIC
Global Private Equity, Greenspring Associates and Thomas, McNerney & Partners.
Frazier Healthcare, founded in 1991 to invest exclusively in healthcare, is a
leading provider of growth equity and venture capital to high growth and
emerging healthcare companies.

Teneo Capital acted as the exclusive financial adviser to PCI and Frazier
Healthcare for this transaction. PCI and Frazier Healthcare engaged global
professional services firm Alvarez & Marsal to provide due diligence services.
Goodwin Procter LLP acted as legal counsel to PCI and Frazier Healthcare for
this transaction.

About Penn Pharma

As one of the longest established pharmaceutical services companies, Penn
Pharma has 30 years of experience in providing integrated drug development,
clinical trial supply and manufacturing services to the international
healthcare industry. Penn Pharma is privately owned and operates from a single
site facility in South Wales, UK where we employ circa 300 highly skilled

About PCI

The global healthcare industry trusts PCI for the packaging solutions that
increase their products' speed to market and opportunities for commercial
success. Only PCI brings the proven experience that comes with more than 50
successful product launches a year and over four decades in the healthcare
business. Leading technology and continued investment enables us to address
global packaging needs throughout the product life cycle -- from Phase I
clinical trials through commercialization and ongoing supply. Our clients view
us as an extension of their business and a collaborative partner, with the
shared goal of improving patients' lives. For more information please visit
http://www.pciservices.com or follow us on Twitter at @PCI_Social.

About Frazier Healthcare

Founded in 1991, Frazier Healthcare is a leading provider of growth equity and
venture capital to high growth and emerging healthcare service and biopharma
companies. With over $1.8 billion under management across seven funds, Frazier
Healthcare has invested in more than 140 companies across the entire
developmental spectrum. From seed stage venture investments to leveraged
recapitalizations of cash generating companies, Frazier Healthcare has
established itself among entrepreneurs and seasoned executives as a preferred
partner to help create and grow successful healthcare companies. For more
information about Frazier Healthcare, visit the company's website at

About Greenspring Associates

Established in 2000 as a global venture capital firm, Greenspring Associates
currently manages both a dedicated late stage direct investment platform as
well as a globally diversified fund-of-funds platform. Since inception, the
Firm has invested in over 55 portfolio companies alongside of its leading
venture capital and growth equity managers both in the United States and
Europe. Through the Firm's value-added investment approach, it primarily
invests across the information technology and communications stack, as well as
healthcare and energy-related technologies. The Firm currently manages over
$2.2 billion in committed capital for a diverse group of pension plans,
insurance companies, foundations, endowments and family offices in North
America, Europe, Middle East, Australia and Asia.

About QIC Private Equity

QIC Global Private Equity (QIC GPE) is a business unit of QIC Limited (QIC)
and acts as an in-house private equity team, managing over $3 billion for
institutional investors including superannuation, pension and sovereign wealth
funds. Operating with a strong principal investment mindset and uncompromising
fiduciary standards, QIC GPE develops, implements and adapts private equity
solutions that seek to deliver higher performance over time. Located in
Brisbane, Sydney, San Francisco and Copenhagen the team is comprised of twelve
investment professionals plus extensive support staff. QIC is one of the
largest institutional investment managers in Australia, with $69.3 billion* in
funds under management. More info http://www.qic.com. *as at 31 December 2012.

About Thomas, McNerney & Partners

Thomas, McNerney & Partners is a health care venture firm with approximately
$600 million under management, focused on investing in innovative life science
and medical technology companies at all stages of development. In addition to
helping entrepreneurs launch companies with seed and early stage funding, the
firm provides growth capital to emerging companies to advance clinical
development or for product commercialization. Thomas, McNerney & Partners also
is involved in spinning out products and divisions from major medical device
and pharmaceutical companies, consolidating companies through roll-up
strategies and participating in structured financings for public companies, as
well as recapitalizations. The firm has offices in Connecticut, Minnesota and
California. For further information, please visit http://www.tm-partners.com.

Justin Schroeder, Executive Director - Marketing, Business Development and
Design Justin.schroeder(at)pciservices(dot)com, (815) 484-8973

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