Divestiture Advances Mallinckrodt's Strategic Priorities to Optimize Capital Structure and Focus on Core Areas of Expertise Mallinckrodt to Use Net Proceeds to Reduce Net Debt by More Than 50% CVC Brings Resources and Expertise to Further Develop and Commercialize Therakos DUBLIN and LUXEMBOURG , Aug. 5, 2024 /PRNewswire/ -- Mallinckrodt plc (" Mallinckrodt " or the "Company"), a global specialty pharmaceutical company, and CVC Capital Partners ("CVC"), one of the world's leading investment firms, today announced that they have entered into a definitive agreement 1 under which CVC Capital Partners Fund IX will acquire the Company's Therakos business for a purchase price of $925 million , subject to customary adjustments. Therakos is a fully integrated extracorporeal photopheresis (ECP) delivery system for autologous immunomodulatory therapy.
With approvals for use in the U.S., Canada , Europe , Japan , Australia and Latin America , it is the platform-of-choice among healthcare providers and patients to treat a range of immune-related diseases.
CVC has deep expertise in healthcare and a global portfolio of life sciences businesses spanning pharma, med-tech and healthcare services. The firm intends to make additional investments in the continued research, development, indication expansion and geographic expansion of Therakos. Under the terms of the agreement, key employees who work on Therakos will transition with the business and continue supporting the product and its stakeho.