Catamaran acquires Healthcare Solutions for $405 million

Catamaran Corporation (NASDAQ: CTRX, TSX: CCT), a leading provider of pharmacy benefit management (PBM) services and technology solutions, announced today the completion, effective as of April 8, 2015, of its previously disclosed acquisition of Healthcare Solutions, for a purchase price of $405 million in cash, subject to certain customary post-closing adjustments. The purchase price was funded from Catamaran's existing cash balance.

"This acquisition presents a great opportunity to further expand our presence in the workers' compensation market," said Mark Thierer, Chairman and CEO of Catamaran. "Healthcare Solutions' complementary business platform will bring additional value to our clients. In addition, Healthcare Solutions' long-standing and established relationships with significant insurance carriers and TPAs provide an opportunity to bring Catamaran's full suite of technology and services to Healthcare Solutions clients."

Healthcare Solutions specializes in providing PBM, ancillary and managed care services to customers in the workers' compensation and auto markets and is headquartered in Duluth, Georgia.