Catalyst Health Solutions acquires Walgreens Health Initiatives

Catalyst Health Solutions, Inc. (NASDAQ:CHSI) today announced it has completed its acquisition of Walgreens' pharmacy benefit management (PBM) subsidiary, Walgreens Health Initiatives, Inc. (WHI). Catalyst funded the transaction with a combination of cash on hand and amounts available under its credit facility.

“We have been pleased with the integration planning and are highly confident that the Company will rapidly realize the many strategic and financial benefits of this transaction”

Over the past several months, teams of Catalyst and WHI associates have been collaborating to identify best practices from both organizations to ensure an efficient and successful integration. "We have been pleased with the integration planning and are highly confident that the Company will rapidly realize the many strategic and financial benefits of this transaction," said David T. Blair, Chief Executive Officer of Catalyst.

The Company will issue a separate press release and conduct a special investor conference call on July 7, 2011 to further discuss the WHI acquisition and provide updated 2011 financial guidance. The financial guidance will incorporate estimated revenue and earnings contributions from WHI as well as the expected timing and scope of upfront integration and transactional expenses.

SOURCE Catalyst Health Solutions, Inc.