AmerisourceBergen Corporation has agreed to acquire a minority stake in Profarma Distribuidora de Produtos Farmacêuticos S.A. (Profarma), a pharmaceutical wholesaler in Brazil. In addition, AmerisourceBergen and Profarma will establish a joint venture for specialty distribution and services. AmerisourceBergen expects to invest a total of approximately $100 million, and the transaction is expected to close in the June quarter of 2014.

“We are very excited to partner with Profarma as we continue to expand our reach into growing international markets,” said Steven H. Collis , president and chief executive officer of AmerisourceBergen, in a press statement. “With its long-term macroeconomic growth outlook, favorable demographics, and increasing access to healthcare services and specialty pharmaceuticals, the Brazilian market affords us a tremendous opportunity to expand our international offerings. Profarma's success in the wholesale distribution, chain and independent retail, and specialty markets, combined with our expertise in specialty distribution and manufacturer services provides a compelling opportunity to shape the delivery of healthcare in Brazil.”

AmerisourceBergen will purchase up to a 19.9% minority stake by offering R$22.50 per share for shares offered in a primary offering by Profarma. The specialty distribution joint venture will include Profarma's existing specialty businesses and an equity investment from AmerisourceBergen, and each company will own a 50% stake in the joint venture.

Source: AmerisourceBergen