Express Scripts Holding Co. said that it has reached an agreement to sell its subsidiary, United BioSource, to private-equity firm Avista Capital Partners.
Financial terms of the deal were not disclosed.
UBC provides pharmaceutical and support services. The company was founded in 2003 and is located Blue Bell, Pa. Express Scripts acquired the firm as part of its blockbuster purchase of Medco in 2012.
UBC has 13 locations in the U.S., Europe, and Canada, according to statement from Express Scripts.
"A core strength of UBC is generating, analyzing, and communicating real-world evidence throughout a medical product's lifecycle," the statement said.
New York-based Avista Capital Partners focuses on investments in the health care sector.
"UBC is a best-in-class pharmaceutical services provider whose service offerings are in increasing demand throughout the industry," Rob Girardi, a partner of Avista Capital Partners, said in the statement.