AmerisourceBergen Acquires World Courier
March 6, 2012
VALLEY FORGE, Pa - AmerisourceBergen Corporation (NYSE: ABC) today announced that it has signed a definitive agreement to purchase World Courier Group, Inc., a privately held leading global specialty transportation and logistics provider for the biopharmaceutical industry, for $520 million in cash. The purchase price is subject to a customary working capital adjustment. The acquisition is expected to be neutral to the Company’s fiscal year 2012 earnings, and $0.06 to $0.10 accretive in fiscal 2013. The transaction is subject to certain regulatory reviews and other customary closing conditions, and is expected to close in the third quarter of fiscal 2012, which ends June 30, 2012.
World Courier, the premier global specialty provider of transportation, storage and distribution services for multinational biopharmaceutical clinical trials in addition to other end markets, will become a new operating segment within AmerisourceBergen. “The acquisition of World Courier adds a new premium specialty service to our existing portfolio of market leading pharmaceutical manufacturer services,” said Steven H. Collis, AmerisourceBergen President and Chief Executive Officer. “The addition of World Courier’s unique capabilities and expertise to our existing commercialization services further strengthens our offerings to global pharmaceutical manufacturers, and provides an established platform for the introduction of our specialty services outside North America.”
World Courier’s President, Wayne B. Heyland, will continue on in this position, reporting directly to Collis. “We are very pleased to bring our global expertise and decades of experience serving international biopharmaceutical manufacturers and contract research organizations (CROs) to AmerisourceBergen,” said Heyland. “Our shared values and similar cultures will ensure the smooth integration of our premium services, which will help both of our organizations take advantage of the tremendous growth opportunities that lie ahead, particularly in international markets. We are very excited to become an integral part of the largest specialty distribution and services provider in the world.”
World Courier’s customized solutions and customer-centric service model complements and meaningfully expands AmerisourceBergen’s existing manufacturer services and commercialization support services. World Courier’s biopharmaceutical clinical trials logistics, investigational drug storage and distribution, and other specialty logistics businesses utilize a company-owned, fully integrated GxP-compliant global network and dedicated, locally based associates to help drive exceptional reliability and customer service in both well-established and emerging markets. World Courier’s annual revenues are expected to be approximately $500 million in calendar year 2012. It has over 137 offices, 13 GMP-compliant storage depots, and 2,500 employees in 52 countries.
AmerisourceBergen provides pharmaceutical products, value-driving services and business solutions that improve access to care. Tens of thousands of healthcare providers, veterinary practices and livestock producers trust us as their partner in the pharmaceutical supply chain. Global manufacturers depend on us for services that drive commercial success for their products. Through our daily work—and powered by our 21,000 associates—we are united in our responsibility to create healthier futures. AmerisourceBergen is ranked #12 on the Fortune 500, with more than $150 billion in annual revenue. The company is headquartered in Valley Forge, Pa. and has a presence in 50+ countries. Learn more at amerisourcebergen.com.
About World Courier
World Courier provides unparalleled specialty logistics services to drive the commercial success of our partners around the globe. For 50 years, we’ve delivered peace of mind through world-class supply chain programs, transportation services, storage of time- and temperature-sensitive products, and innovative, cutting-edge medicines including cell and gene therapies. Through our daily work – and powered by our nearly 3,000 associates – we are united in our responsibility to create healthier futures. With a presence in 50+ countries, World Courier is driven by a commitment to excellence, and provides customized solutions with global reach to increase access to care; making us the most trusted specialty logistics company in the world. Learn more at worldcourier.com.