Diplomat Pharmacy Inc. completed the acquisition of pharmacy benefit manager Leehar Distributors LLC, doing business as LDI Integrated Pharmacy Services.
The specialty pharmacy services provider paid $515 million in cash and about $80 million in Diplomat common stock to buy LDI.
Diplomat also entered into a new $800 million senior secured credit facilities, with financing led by JPMorgan Chase Bank NA and Capital One NA, which will be used to fund the cash portion of deal, pay related transaction fees and expenses, refinance current debt, and provide sufficient liquidity for future needs.
