Mubadala Investment Company, Abu Dhabi’s strategic investment arm, has become a significant investor in PCI Pharma Services as part of a deal in which private equity firm Kohlberg & Co has taken a majority stake. PCI Pharma Services, a pharmaceutical outsourcing business, was bought from Swiss private equity firm Partners Group for an undisclosed sum. “Outsourced pharmaceutical services has been a key investment theme for us over the past few years, and we are excited to be partnering with one of the global leaders in this industry,” Camilla Macapili Languille, head of pharma and medtech at Mubadala, said. “We have been particularly impressed by the quality and depth of PCI’s management team, as well as the company’s strong execution track record, impeccable values, and distinct vision for the long-term development of their business. We have strong conviction in the company’s growth trajectory.” Mubadala, which invests on behalf of Abu Dhabi government entities, has increased its investment in medtech, life sciences and artificial intelligence in recent years. In July, it invested $18 million (Dh66.1m) in Owkin, a French healthcare technology company, through its €400m (Dh1.65 billion) European venture capital fund. PCI Pharma Services is based in Philadelphia and serves the pharmaceutical supply chain from the earliest stages of drug development through to commercial launch and delivering ongoing supply. It also has global capabilities for drug development and manufacturing, clinical trials and commercial packaging services. The company operates 25 facilities in six countries and employs around 3,900 people worldwide. Kohlberg and Mubadala plan to expand PCI's capabilities and geographies, improve its customer service experience and enable its customers to bring life-saving biopharmaceutical therapies to market. Partners Group will retain a minority equity stake in PCI Pharma Services following the sale. It took a majority stake in the company in 2016 and said in a separate statement that earnings had grown at a compound annual rate of 15.6 per cent under its ownership. “Though the last few months have been immensely challenging, the Covid-19 pandemic has demonstrated the essential nature of services that PCI provides to the pharmaceutical and biotech industry. On more than one occasion, PCI was the critical link in the supply chain responsible for ensuring life-saving medicine reached those in need,” said Remy Hauser, managing director and head of healthcare at Partners Group.