Advent International (“Advent”), one of the largest and most experienced global private equity investors, announced that it has completed a recapitalization of RxBenefits, the employee benefits industry’s first and only technology-enabled pharmacy benefits optimizer (PBO), which values the company at approximately $1.1 billion. With this investment Advent joins Great Hill Partners (“Great Hill”), a leading growth-oriented private equity firm, which first invested in the company in 2016. Advent and Great Hill now each own equal stakes in RxBenefits, alongside a significant investment from the current management team.
Read the press release from Advent International.