y Greg Roumeliotis and Soyoung Kim
NEW YORK, Nov 19 (Reuters) - PharMEDium Services LLC, a venture capital-backed provider of pharmacy compounding services to hospitals, is in discussions to sell itself for close to $1 billion, according to people familiar with the matter.
The Lake Forest, Illinois-based company is working with JPMorgan Chase & Co and is in talks with a small group of potential private equity buyers, including TPG Capital LP, about a possible deal, two of the people said on Tuesday.
The people asked not to be identified because the negotiations are private. Representatives of PharMEDium, JPMorgan and TPG did not immediately respond to requests for comment.
PharMEDium operates centers in four U.S. states where it compounds finished medicines from drug manufacturers and then dispatches them to thousands of hospitals across the country.
Traditionally, pharmacists who compound medications mix tailored doses for individual patients in response to a specific prescription.
The practice has mushroomed over the last decade, with some pharmacies selling thousands of doses of regularly used mixtures without prescriptions for physicians to keep for future use.
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