Mar. 30, 2015, 6:45 AM
- UnitedHealth (NYSE:UNH) has agreed to acquire Catamaran (NASDAQ:CTRX) for about $12.8B in cash, planning to merge the pharmacy-benefit manager into its OptumRx unit.
- UnitedHealth will pay $61.50 per share of Catamaran, a 27% premium over Friday’s closing price of $48.32.
- The deal is expected to close in the fourth quarter and will be accretive to UnitedHealth's 2016 net earnings by about $0.30 a share.
- UNH +2.7%; CTRX +26.2% premarket
Oct. 8, 2014, 6:47 PM
- Salveo is based out of Florida, and has operations in New York and California. The company manages $400M/year in drug spend for clients. (PR)
- Catamaran's (NASDAQ:CTRX) acquisition price is equal to 13x Salveo's trailing EBITDA. The purchase will be financed using cash on hand, and is expected to close in Q4.
- CEO Mark Thierer: "This transaction affirms our commitment to investing in our specialty capabilities and the combination of BriovaRx and Salveo strongly positions Catamaran as one of the largest specialty pharmacies with a truly unique service offering."
Jun. 6, 2014, 11:37 AM
- Analysts say Humana (HUM +1.7%) is exploring strategic alternatives for its pharmacy benefit management business including an outright sale which could fetch as much as $7B. The unit is projected to generate ~$15.5B in revenues this year. Options other than a sale include renegotiating the pricing of generic drugs and outsourcing certain operations. Potential buyers may include CVS Caremark (CVS +0.6%), Express Scripts (ESRX +0.4%) and Catamaran (CTRX +1.1%).
Apr. 18, 2012, 6:29 AM
Nov. 17, 2011, 1:59 PM
SXC Health Solutions' (SXCI +6.2%) acquisition of privately-held smaller rival HealthTrans for $250M, which will boost its presence in the pharmacy benefit management market, is applauded by GMP Securities' Sera Kim: It "gives SXC more scale [and] opportunities to convert some of HealthTrans' [healthcare information technology] customers to PBM customers."| Nov. 17, 2011, 1:59 PM