Private equity giant Blackstone is preparing to test the market for Precision Medicine Group's contract research organization and pharmaceutical commercialization divisions, according to sources familiar with the matter. The firm acquired PMG from Berkshire Partners and TPG Growth for between $2.3 billion and $2.4 billion in late 2020.

Sources indicate the CRO and commercialization business groups will be shopped concurrently, with potential buyers able to bid on either asset separately or both combined. This strategic move comes as the life sciences services sector continues to attract significant investor interest amid growing demand for drug development and commercialization support.

The sale process review is expected to launch in the coming months, signaling Blackstone's intent to capitalize on PMG's growth trajectory and the broader market dynamics in pharmaceutical services. Industry observers note that separating these divisions could appeal to different types of buyers, from strategic acquirers to specialized private equity firms.