PharmaCord and Mercalis to Merge, Creating Next-Generation Platform to Meet Evolving Needs of the Biopharmaceutical Industry

Merger unites two industry leaders well-positioned to improve patient outcomes and advance healthcare delivery as a combined company

PharmaCord LLC (“PharmaCord”), a leading provider of patient services for the biopharmaceutical industry, and Mercalis, an integrated life sciences commercialization partner that provides comprehensive solutions that span the entire healthcare value chain, today announced a merger to create one of the largest and most trusted independent total solutions providers to the biopharmaceutical industry. The combined company will be an industry-leading provider that offers a full suite of solutions, from patient services to market access, supporting the entire commercialization process.

PharmaCord is a high-growth pharma services company that serves as a commercialization partner for over 30 biopharmaceutical organizations with the goal of enhancing the patient experience. PharmaCord’s comprehensive solutions support the patient journey for specialty medications through a range of services that raise awareness, facilitate access to treatment, improve affordability, and promote therapy adherence. PharmaCord employs over 1,100 dedicated team members and supports over 100 biopharmaceutical products through its various programs. Funds advised by Permira completed the acquisition of PharmaCord in September 2024.

Mercalis, a portfolio company of Odyssey Investment Partners (“Odyssey”), employs more than 1,800 dedicated associates who support over 500 clients in navigating complexity and accelerating value to improve patient outcomes. Founded in 2000, Mercalis partners closely with life science companies to deliver end-to-end solutions across the entire commercialization value chain. Its integrated suite of services seamlessly combines data-driven market access insights, comprehensive technology-enabled patient support services, and healthcare provider engagement solutions to help customers successfully bring new healthcare products to market and enhance the lives of the patients they serve.

By combining PharmaCord’s expertise in patient services with Mercalis’s advanced technology infrastructure, experienced commercial team, and fully integrated market access offerings, the new entity is poised to be a leading provider of patient access solutions to the biopharmaceutical industry. The merger will enhance the patient experience by improving access and affordability while addressing the complex challenges of adherence and retention, particularly for specialty medications.

“This combination is about more than growth — it’s about impact and transformation to meet evolving manufacturer and patient needs. By uniting PharmaCord’s deep expertise in hub services with Mercalis’s established leadership in end-to-end patient access solutions and robust infrastructure, we are building a next-generation platform that redefines how life science companies bring innovative therapies to market,” said Robert Truckenmiller, CEO of PharmaCord. “Together we will unlock new efficiencies, accelerate patient access, create a seamless experience for healthcare providers and patients alike, and provide a highly compelling opportunity for employees.”

“This merger marks an exciting milestone for Mercalis and our team as we continue our journey of transformative growth and innovation alongside PharmaCord,” said Scott Dulitz, CEO of Mercalis. “Mercalis and PharmaCord share a noble mission — to enhance the lives of the patients we serve. By joining forces, we are strengthening our ability to provide seamless, fully integrated commercialization support for our life science customers and their patients. I want to express my gratitude to Odyssey for their strategic partnership over the past seven years and look forward to collaborating with Rob and the Permira team to further our shared vision. I am truly excited about the opportunities this merger brings to our combined ecosystem and the positive impact it will have on the healthcare industry.”

“The combination of PharmaCord and Mercalis will form one of the largest independent patient access companies in the market, delivering the full breadth of solutions with greater reach and efficiency,” said Jon Maschmeyer, Partner at Permira and member of PharmaCord's Board of Directors. “With our support, the combined company will have the resources to continue innovating and catering to the evolving needs of patients and biopharmaceutical companies. We look forward to the opportunity to raise the bar for patient access and drive the industry forward.”

“We are proud to have supported Mercalis in recent years as it has further built its leadership position in the life sciences commercialization sector,” said Jeffrey McKibben, Senior Managing Principal at Odyssey. “The combination with PharmaCord is an attractive opportunity to create a comprehensive solutions provider serving the biopharmaceutical industry. We are grateful to Scott Dulitz and the Mercalis team for our successful partnership and excited for what they will accomplish together with PharmaCord in the future.”

The combined company will be majority owned by funds advised by Permira. Robert Truckenmiller will serve as CEO of the combined company and Scott Dulitz will serve as President. The transaction, which is subject to customary regulatory approvals and closing conditions, is expected to close by the third quarter of 2025. Financial terms of the transaction were not disclosed.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel, and Jefferies LLC and Leerink Partners are serving as financial advisors to PharmaCord. Latham & Watkins LLP is serving as legal counsel and Harris Williams is serving as financial advisor to Odyssey and Mercalis.

About PharmaCord

As a patient services provider, PharmaCord works on behalf of drug manufacturers to simplify the patient therapeutic journey. Through a combination of its proprietary PharmaCord Lynk™ technology suite, exceptionally talented team members and its non-commercial pharmacy PharmaCord Scripts™, PharmaCord helps patients have a better experience accessing and adhering to their critical medications. To learn more about how PharmaCord improves commercial outcomes for life sciences companies, visit pharmacord.com.

About Mercalis

Mercalis is an integrated life sciences commercialization partner that provides comprehensive solutions that span the entire healthcare value chain. The company partners closely with its clients to deliver an end-to-end spectrum of commercial capabilities that work together seamlessly and flexibly. Backed by proven industry expertise and results-driven technology, Mercalis provides the data and strategic insights, patient support services, and healthcare provider engagement tools to help life sciences companies successfully commercialize new products. Above all, Mercalis helps navigate the complex life sciences marketplace to accelerate value and enhance patient lives. Founded in 2000, Mercalis provides commercialization solutions to more than 500 life sciences customers and has provided access and affordability support to millions of patients. The company is headquartered in Morrisville, North Carolina. For more information about Mercalis, please visit www.mercalis.com.

About Permira

Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with total committed capital of approximately €80bn and makes long-term majority and minority investments across two core asset classes, private equity and credit.

The Permira funds have an extensive track record investing in healthcare, having partnered with 19 companies in the specialty pharma, medical devices and strategic outsourcing spaces, as well as in the high-growth tech-enabled healthcare services space. The Permira funds have previously supported and helped scale Cambrex, LSNE, I-Med Radiology, Ergomed, Kedrion Biopharma, and other healthcare leaders.

The Permira private equity funds have made approximately 300 private equity investments in five key sectors: Technology, Healthcare, Consumer, Services and Climate. Permira employs over 500 people in 16 offices across Europe, the United States and Asia. For more information, visit www.permira.com or follow us on LinkedIn.

About Odyssey Investment Partners

Odyssey Investment Partners is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers and using its buy, build and integrate approach to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority-controlled investments in industrial and business services sectors with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit www.odysseyinvestment.com.

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