CVC To Buy Mallinckrodt's Therakos Business for USD 925 million

Mallinckrodt plc, a worldwide specialty pharmaceutical company, and CVC Capital Partners, a top investment firm, have confirmed a deal where CVC Capital Partners Fund IX will buy the company's Therakos business for $925 million with standard adjustments.

Therakos is a complete extracorporeal photopheresis (ECP) system that delivers autologous immunomodulatory therapy. Having been approved for use in the US, Canada, Europe, Japan, Australia, and Latin America, it is the preferred platform for healthcare providers and patients to address various immune-related conditions. CVC specializes in healthcare with extensive knowledge and a worldwide array of life sciences companies in pharmaceuticals, medical technology, and healthcare services. The company plans to increase investments in further research, development, and expansion of Therakos in terms of both indications and geography.

According to the agreement, essential employees working with Therakos will move with the company and keep providing assistance for the product and its stakeholders.

On behalf of CVC's Healthcare team, Cathrin Petty and Phil Robinson said, "We see significant opportunities ahead to expand Therakos' indications, enter new geographies and bring this innovative treatment to more patients around the world. We look forward to working closely with the talented Therakos team and adding this best-in-class ECP system with an unparalleled efficacy, safety and tolerability profile to our portfolio of healthcare businesses."