Catamaran Sails into OptumRx’s Harbor
As the free-standing pharmacy care business of UnitedHealth Group (NYSE: UNH), OptumRx has serious backing when the right target comes along. Last week, the right one came along in the form of Catamaran Corporation (NASDAQ: CTRX), the nation’s fourth-largest provider of pharmacy benefit management services and healthcare information technology solutions. The offer was $61.50 per share, or approximately $12.8 billion. The deal leaves No. 1 pharmacy benefits provider Express Scripts Holdings (NASDAQ: ESRX) as the last holdout in the field, and some analysts are cheering for a major pharmacy retail chain to make an offer. Don’t look at Rite Aid (NYSE: RAD), though. It just paid $2 billion for... Read More »PE Firms Make Grand Exits in the PBM Sector
After a fairly quiet 2014, M&A in the pharmacy benefit management (PBM) segment saw two big deals go down in February. First, Rite Aid Corp. (NYSE: RAD) paid $2 billion for EnvisionRx, a portfolio company of TPG. Last week, Catamaran Corp. (NASDAQ: CTRX) added to its own portfolio with an all-cash, $405 million deal for Healthcare Solutions, Inc., a portfolio company of Brazos Private Equity Partners LLC. Healthcare Solutions specializes in pharmacy benefits and other services in the workers’ compensation market, making for a strong addition to Catamaran’s previous acquisitions: Restat, LLC, which provides PBM services for self-funded employers, third-party administrators,... Read More »Schedule a demo
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