Medco Health Solutions, a pharmacy benefits manager, says it will purchase life-sciences technology company United BioSource Corp. for $730 million in an all-cash deal.
The transaction is expected to close sometime in the third quarter, according to a news release from the companies.
United BioSource, Bethesda, Md., partners with pharmaceutical and medical device companies and offers technology-based services for clinical trials, patient monitoring, research support and risk management. United BioSource is expected to report about $280 million in revenue in 2010.
After the deal closes, United BioSource will operate as a wholly owned subsidiary of Franklin Lakes, N.J.-based Medco Health Solutions and will be run independently from Medco’s core business, according to the release.