Frazier Healthcare has acquired Catalent Pharma Solution's pharmaceutical packaging business based in Philadelphia, Pennsylvania and Woodstock, Illinois, US.

Upon acquisition, Frazier will operate the packaging business as Packaging Coordinators (PCI).

The former president, Bill Mitchell, of the Catalent will continue to serve as president and chief executive officer for PCI.

As part of the new PCI management team, Bill Bolding will join as chief operating officer and Phil DiGiacomo as sales vice president.

Frazier Healthcare managing partner Alan Frazier said, "The acquisition of PCI gives us the opportunity to extend our model of uncovering opportunities where the combination of new a management team and an infusion of capital can result in outstanding growth and market leadership."

Packaging Coordinators president and chief executive officer Bill Mitchell said, "We want to build on a strong foundation and reinvigorate PCI to once again become the supplier of choice for outsourced healthcare packaging."